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Score: 0 of 1 pt 19 of 20 (20 complete) V Score: 80.83%, 16.17 of ... X P6-28 (similar to) E Question Help Your firm

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Score: 0 of 1 pt 19 of 20 (20 complete) V Score: 80.83%, 16.17 of ... X P6-28 (similar to) E Question Help Your firm has a credit rating of A. You notice that the credit spread for five-year maturity A debt is 85 basis points (0.85%). Your firm's five-year debt has an annual coupon rate of 6.4%. You see that new five-year Treasury notes are being issued at par with an annual coupon rate of 2.1%. What should be the price of your outstanding five-year bonds? The price of the bond is (Round to the nearest cent.)

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