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Suppose investment bank one decides to underwrite a million 6 year 5% semi annual bond issue for clothing company on a firm commitment basis. investment

Suppose investment bank one decides to underwrite a million 6 year 5% semi annual bond issue for clothing company on a firm commitment basis. investment bank 1 pays clothing company 1 million today and they plan to issue the bonds tomorrow. If the interest rate is 15 basis points lower tomorrow, then how will this impact investment bank once profits?

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