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What payment must they make on the first coupon payment date

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Reference no: EM132764450

Question - A firm issues $200 million in ten-year bonds with an annual coupon rate of 6%. The firm uses a sinking fund to repurchase 8% of the bonds on each coupon payment date. What payment must they make on the first coupon payment date?

a. $28 million

b. $22 million

c. $16 million

d. $12 million

Reference no: EM132764450

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