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Massey Motors (MM) is a new firm in a rapidly growing industry. MM is planning to expand its production so it needs to raise funds

Massey Motors (MM) is a new firm in a rapidly growing industry. MM is planning to expand its production so it needs to raise funds through money market. Currently, MM has BBB rating for its bonds. In the market, a 10 year BBB bond has a market yield of 12%. If MM issues 100 of 10 years bonds with 10% of the annual coupon rate, how much does it can raise today?

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