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Cote has an opportunity to buy a bond with a face value of $5,000 and a coupon rate of 8%, but payable semiannually (i.e. 4%
Cote has an opportunity to buy a bond with a face value of $5,000 and a coupon rate of 8%, but payable semiannually (i.e. 4% for every 6 months). If the bond matures in 15 years and Cote can currently buy this bond for $2,500, what is his IRR for this investment? 1.0%20.0%
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