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Davco plans on issuing new corporate bonds. The bonds have a face value of $100, mature in 3 years, and have a coupon rate of

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Davco plans on issuing new corporate bonds. The bonds have a face value of $100, mature in 3 years, and have a coupon rate of 8% p.a. Coupon payments are made quarterly. If yields in the market are 10% p.a. compounded semi-annually, how much will each Davco bond cost? $95.17 $93.87 $94.08 $94.92 $94.33

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