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Suppose Yvette wants to earn a return of 9.00%, but the bond being considered for purchase offers a coupon rate of 12.00%. Again, assume that

Suppose Yvette wants to earn a return of 9.00%, but the bond being considered for purchase offers a coupon rate of 12.00%. Again, assume that the bond pays semiannual interest payments and has three years to maturity. If you round the bonds value to the nearest whole dollar, then its value of is its par value, so that the bond is

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