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On Jan 1, 2020. ABC Co issues a 10 year, 51,000 bond with a 5% coupon paid semiannually on July 1 and January 1. The

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On Jan 1, 2020. ABC Co issues a 10 year, 51,000 bond with a 5% coupon paid semiannually on July 1 and January 1. The market rate for the bond was 6%, and the bond sold for 92.50. What is the coupon payment on July 1st, 20207 Round your answer to two decimal places

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