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Q5A In 1995 Coca Cola Enterprises needed to borrow about a quarter of a billion dollars for 25 years. It did so by selling debt

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Q5A In 1995 Coca Cola Enterprises needed to borrow about a quarter of a billion dollars for 25 years. It did so by selling debt instrument each of which simply promised to pay the holder $1,000 at the end of 25 years. The market interest rate at the time was 8.53%. How much would you have been prepared to pay for one of the company's debt instrument? (20 Marks)

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