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UTK Company has a credit rating of AA , and its 6 % coupon bond has 5 years remaining until maturity. If AA bonds have

UTK Company has a credit rating of AA, and its 6% coupon bond has 5 years
remaining until maturity. If AA bonds have a credit spread of 2.3% over Treasuries
and the relevant Treasury yield is 6.3%, what is a fair price for the bonds? Assume
coupons are paid semi-annually and express your answer as a percentage of par
rounded to four decimal places. That is, if the answer is "101.3528% of par value",
enter 101.3528.
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