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Question 4: Assume there is no secondary. market for the bond in this question. In your own words describe, qualitatively, in as much detail as

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Question 4: Assume there is no secondary. market for the bond in this question. In your own words describe, qualitatively, in as much detail as necessary to persuade the instructor that you fully understand what a borrower and lender would want to do with the bond in a situation represented in each of four question mark boxes below. (This question is worth 7 points.)

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