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Union Local School District has bonds outstanding with a coupon rate of 3.5% paid semiannually and 13 years to maturity. The YTM on the bonds

Union Local School District has bonds outstanding with a coupon rate of 3.5% paid semiannually and 13 years to maturity. The YTM on the bonds is 2.5% and the bonds have a par value of 10,000. What is ...

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