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Zippy Inc. sold 2 5 year bonds with a face value of $ 1 , 0 0 0 , 0 0 0 and a coupon

Zippy Inc. sold 25 year bonds with a face value of $1,000,000 and a coupon rate of 3 percent.They received $ 1,075,000 for the bonds. The market interest rate for 25 year bonds was ?(a)3.5%(b)7.5%(c)2.8%(d)3.0%

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