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Please answer the question with a detailed steps and formulas so I can understand it more. ( The Question Is Completed) Explain liquidity risk, default

Please answer the question with a detailed steps and formulas so I can understand it more. ( The Question Is Completed)image text in transcribed

Explain liquidity risk, default risk, and taxability risk. How does each of these risks affect the yield of a bond? (7 marks)

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