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What is the value of a 3-year step-up callable note that pays 5% for two years and then 8% for two more years using the

image text in transcribed What is the value of a 3-year step-up callable note that pays 5% for two years and then 8% for two more years using the interest rate tree below. Assume that this note is callable in one year at par ($100). (i.e. The bond is callable starting from year 1 )

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