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Please show step by step The table below shows the dollar amounts of outstanding...

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Finance

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The table below shows the dollar amounts of outstanding bonds and corresponding default amounts for every year over the past five years. The outstanding figures reflect default amounts and bond redemptions (millions) Years 3 Years 2 Years o S 1 Year 6 S Annual default Outstandin $100,000 $94,000 What are the annual and cumulative default rates of the above bonds

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