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Calculate the spread for the 3-year non-benchmark bond. Market Prices for Benchmark & Non-Benchmark Bonds Benchmark Bonds Par Value (%) Pmt per Yr 100.000 2.000

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Calculate the spread for the 3-year non-benchmark bond. Market Prices for Benchmark & Non-Benchmark Bonds Benchmark Bonds Par Value (%) Pmt per Yr 100.000 2.000 Non-Benchmark Bonds Par Value (%) Pmt per Yr 100.000 2.000 Maturity Maturity (Yrs) (Yrs) Coupon (%) 3.00 3.25 Price (%) 99.000 98.000 97.000 96.000 Coupon (%) 5.75 6.00 6.35 7.00 Price (%) 100.850 100.500 100.150 99.450 3.75 4.10

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