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Which of the following is usually used to define the recovery rate of a bond? The amount finally realized by a bondholder as a percent

Which of the following is usually used to define the recovery rate of a bond?

The amount finally realized by a bondholder as a percent of face value.

The value of the bond immediately after default as a percent of the sum of the bonds face value and accrued interest.

The value of the bond immediately after default as a percent of its face value

The amount finally realized by a bondholder as a percent of the sum of the bonds face value and accrued interest.

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