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How much would you pay for a perpetual bond that pays an annual coupon of $80 per year and yields on competing instruments are 10%?

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How much would you pay for a perpetual bond that pays an annual coupon of $80 per year and yields on competing instruments are 10%? You would pay $ 800 (Round your response to the nearest penny.) If competing yields are expected to change to 12%, what is your expected capital gain (or loss)? The expected capital gain (or loss) is $(Round your response to the nearest penny)

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