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Bond price: Nanotech Ltd has a bond issue maturing in seven years and paying a coupon...

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Finance

Bond price: Nanotech Ltd has a bond issuematuring in seven years and paying a coupon rate of 11.39 percent(semiannual payments). The company wants to retire a portion of theissue by buying the securities in the open market. If it canrefinance at 10.73 percent, Nanotech will pay $_______________ tobuy back its current outstanding bonds?

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