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IBM issues bonds with a sinking fund provision that the company can call 7% of the bonds at par value or the company can buy
IBM issues bonds with a sinking fund provision that the company can call 7% of the bonds at par value or the company can buy the required bonds on the open market. IBM will choose to buy the required bonds on the open market if the bonds are traded at ______ in the market. Select one:
a. $1049
b. $ 990
c. $1116
d. $1850
e. $1053
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