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You have a bond that pays a $3 coupon in 1 year and a $3 coupon in two years and a $3 coupon in three

You have a bond that pays a $3 coupon in 1 year and a $3 coupon in two years and a $3 coupon in three years.It matures in three years with principal repayment of $100 (paid at the same time as the final coupon).Suppose 1-year, 2-year, and 3-year zero coupon bond prices are 0.99, 0.97, and 0.92, respectively.Which is closest to the fair market price of the bond that you have?

a.$96.00

b.$98.00

c.$100.00

d.$102.00

e.$104.00

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