A B C D 40 10 50 b) A corporation is issuing a bond on a...
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A B C D 40 10 50 b) A corporation is issuing a bond on a competitive bidding basis. The corporation has indicated that it will issue $200 million of an issue. The following yield bids and the corresponding amounts were submitted. Bidder Amount (in 20 E F G H 40 20 10 10 I J 20 25 28 20 K L M 18 $ million) 9 Bid (%) 7.4 7.5 7.5 7.5 7.6 7.6 7.7 7.7 7.8 7.9 7.9 8.0 8.1 D) Who are the winning bidders? II) III) How much the security will be allocated to each winning bidder? If this auction is single-price auction, at which yield will each winning bidder be awarded the security? A B C D 40 10 50 b) A corporation is issuing a bond on a competitive bidding basis. The corporation has indicated that it will issue $200 million of an issue. The following yield bids and the corresponding amounts were submitted. Bidder Amount (in 20 E F G H 40 20 10 10 I J 20 25 28 20 K L M 18 $ million) 9 Bid (%) 7.4 7.5 7.5 7.5 7.6 7.6 7.7 7.7 7.8 7.9 7.9 8.0 8.1 D) Who are the winning bidders? II) III) How much the security will be allocated to each winning bidder? If this auction is single-price auction, at which yield will each winning bidder be awarded the security?
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