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solve this and explain it What's the value of a 10-year bond outstanding with the same risk but a 7% annual coupon rate? The annual

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solve this and explain it

What's the value of a 10-year bond outstanding with the same risk but a 7% annual coupon rate? The annual coupon payment is $70. Since the risk is the same it has the same yield to maturity as the previous bonds (10%). This bond sells at a discount because the coupon rate

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