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Owen purchased a 14-year 6% semiannual coupons bond with face amount $100 that is callable on any coupon date in the 8h to 14/h years.

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Owen purchased a 14-year 6% semiannual coupons bond with face amount $100 that is callable on any coupon date in the 8h to 14"/h years. () In the 8th year, the bond is callable at redemption amount of $105. (i) In the 9h to 12h year, the bond is callable at redemption amount of $87. (il) In the 12h to 14ih year, the bond is callable at par. The maximum price Owen should pay in order to ensure a minimum nominal annual rate of 8% is

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