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Suppose that Cobb County is going to build a new public park. Construction of the park will cost $15 million. The county plans to raise

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Suppose that Cobb County is going to build a new public park. Construction of the park will cost $15 million. The county plans to raise $10 million through the sell of municipal bonds and $5 million through an increase in property taxes. If the county issues a $10 million, 10-year municipal bond at a 6% coupon rate, how much will it have to pay each year for the next 10 years in order to pay off the bond? $679,339.79 $1,358,679.58 $2,038,019.37 $166,666,666.67

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