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Michael owns investment A and 1 bond B . The total value of his holdings is $ 2 , 8 4 0 . 0 0

Michael owns investment A and 1 bond B. The total value of his holdings is $2,840.00. Bond B has a coupon rate of 9.97 percent, par value of $1,000.00, YTM of 9.04 percent, 14 years until maturity, and semi-annual coupons with the next coupon due in 6 months. Investment A is expected to pay annual cash flows to Michael of X per year forever with the first annual cash flow expected in 1 year from today. The expected return for investment A is 8.84 percent. What is X, the fixed annual cash flow that will be paid forever by investment A?
$187.41(plus or minus $1)
$156.20(plus or minus $1)
$153.07(plus or minus $1)
$190.50(plus or minus $1)
none of the answers are within $1 of the correct answer

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