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QUESTION
We have a semiannual bond selling for $950 and paying an annual coupon rate of 10% per annum for a period of 25 years.
We have a semiannual bond selling for $950 and paying an annual coupon rate of 10% per annum for a period of 25 years. The issuer has inserted a call feature enabling it to buy back the bond at face value plus 2 semesters' interest after 5 years. Compute
