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Your firm has a uredit rathy of A. You nobce that the credit spread for five-yoar maturiy A debt is 80 basis points (0.80%). Your

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Your firm has a uredit rathy of A. You nobce that the credit spread for five-yoar maturiy A debt is 80 basis points (0.80\%). Your fma's fiee year dobt has an annual coupon nate of 6.4%. You see that new fre-year Treesury notes are being issuod at par with an annust coupon rate of 1.7%. What ahould be the price of your outstanding fivo-year bonds? Assume $1,000 face value Ascuming a $1,000 tace value, the price of the bond is ? (Round to the nearest cent.)

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