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Section A: Solve the following questions: 1- Explain how callable, and convertible bonds work, and which of them is a better option for the bond

Section A: Solve the following questions: 1- Explain how callable, and convertible bonds work, and which of them is a better option for the bond issuer (borrower)? (27.) 2- What is the expected return of zero-beta security? Explain? (27.)

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