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Your firm has a credit rating of A. You notice that the credit spread for...

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Finance

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Your firm has a credit rating of A. You notice that the credit spread for five-year maturity A debt is 81 basis points (0.81%). Your firm's five-year debt has an annual coupon rate of 6.3%. You see that new five-year Treasury notes are being issued at par with an annual coupon rate of 1.9%. What should be the price of your outstanding five-year bonds? The price of the bond is $ . (Round to the nearest cent.)

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