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General Motors issues $1 million face value, 10-year maturity bonds with a 7.0% coupon rate. Coupons are paid twice a year, beginning in 6 months.
General Motors issues $1 million face value, 10-year maturity bonds with a 7.0% coupon rate. Coupons are paid twice a year, beginning in 6 months. Similar bonds issued by the U.S. government have a yield to maturity of 1.58%. How much will these General Motors bonds sell for if GM's credit spread is 3.20%? O 900,544 0914,297 0 955,628 0 1,019,533 0 1,033,426 0 1,174,851
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