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Your father bought a 15-year bond. The bond has a face value of $1000 and pays semi-annual coupon. The annual coupon rate is equal to

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Your father bought a 15-year bond. The bond has a face value of $1000 and pays semi-annual coupon. The annual coupon rate is equal to 7.75% compounded semi-annually. The current market rate of return is 5.85% compounded semi-annually. Find the value of the coupon? $38.75 $97.5 $162.5 $175 None of these

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