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Consider a bond with a par value of $5,000 and an annual coupon rate of 5.15%. Coupons are paid quarterly and the quoted price 23

Consider a bond with a par value of $5,000 and an annual coupon rate of 5.15%. Coupons are paid quarterly and the quoted price 23 days away from the next coupon date is 101.12.

(b) Compute the clean price of the bond and determine whether the bond is at a discount.

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