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Please provide explanation. An investor purchases a 100,000 bond redeemable at par that pays semi-annual coupons at an annual rate of 8% and matures in

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An investor purchases a 100,000 bond redeemable at par that pays semi-annual coupons at an annual rate of 8% and matures in 12 years. The bond is callable at par on any coupon date beginning with the 21st coupon. If a 6% minimum annual yield compounded semi-annually is desired, the price should be determined assuming the bond is called at the time of the: (A) 20^th coupon (B) 21^st coupon (C) 22^nd coupon (D) 23^rd coupon (E) 24^th coupon

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