A company has issued a floating-rate note with a coupon rate equal to the three-month...

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Accounting

A company has issued a floating-rate note with a coupon rate equal to the three-month MRR +65bps. Interest payments are made
quarterly on 31 March, 30 June, 30 September, and 31 December. On 31 March and 30 June, the three-month MRR is 1.55% and 1.35%,
respectively. The coupon rate for the interest payment made on 30 June is:
a.2.2%
b.2%
c.2.1%
d.2.5%
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