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Your firm has just issued five-year floating-rate notes indexed to six-month U.S. dollar LIBOR plus 1/4 percent. What is the amount of the first coupon

Your firm has just issued five-year floating-rate notes indexed to six-month U.S. dollar LIBOR plus 1/4 percent. What is the amount of the first coupon payment your firm will pay per $1,000 of face value, if six-month LIBOR is currently 7.4 percent? (Round your answer to 2 decimal places.)

First coupon payment =?

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