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Question 4 The committee chair states that it is important for Pacific to understand the market for its debt: I understand that Pacific's bonds are

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Question 4 The committee chair states that it is important for Pacific to understand the market for its debt: "I understand that Pacific's bonds are held primarily by tax-paying investors, so I want to know whether they prefer one of the 25-year bonds over the other and why." (Hint: No additional calculations are required.)

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