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Consider two 5-year bonds: One has an 5% coupon rate and sells for $99; the other has an 9% coupon rate and sells for $103.

Consider two 5-year bonds: One has an 5% coupon rate and sells for $99; the other has an 9% coupon rate and sells for $103. What is the price of a 5 year zero copon bond?

(Assume that coupons are paid annually, and the face value of all the bonds are $100)

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