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You purchase a TIP note with an original principal amount of $1,000,000 and a 10...

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You purchase a TIP note with an original principal amount of $1,000,000 and a 10 percent annual coupon (paid semiannually). What will the first coupon payment be if the semiannual inflation over the first six months is 3 percent? (round your answer to 2 decimal places)

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