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QUESTION 8 Dan has an opportunity to buy a bond with a face value of $8,000 and a coupon rate of 4%, but payable

QUESTION 8 Dan has an opportunity to buy a bond with a face value of $8,000 and a coupon rate of 4%, but payable semi-annually (i.e. 2% for every 6 months). If the bond matures in 15 years and Dan can currently buy this bond for $5,000, what is his IRR for this investment? 1.0%

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