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On the first trading day of this year, January 2 nd , 2 0 2 4 , Company XYZ issued 3 0 - year maturity

On the first trading day of this year, January

2

, 2024,

Company XYZ issued

30 -

year maturity bonds that were associated with a coupon rate of

7 % .

Company XYZ was able to sell those bonds for a price equal to the face value, i

.

.,

1, 000 .

What was the default spread for those bonds?

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