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UTK Company has a credit rating of AA, and its 6% coupon bond has 13 years remaining until maturity. If AA bonds have a credit
UTK Company has a credit rating of AA, and its 6% coupon bond has 13 years remaining until maturity. If AA bonds have a credit spread of 3.9% over Treasuries and the relevant Treasury yield is 6.9%, 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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