Question: When valuing debt securities using the discounted cash flow approach, the expected cash flows of bonds with: lower credit risk should be discounted using higher

When valuing debt securities using the discounted cash flow approach, the expected cash flows of bonds with:
lower credit risk should be discounted using higher discount rates
higher credit risk should be discounted using lower discount rates
higher credit risk should be discounted using higher discount rates ?
When valuing debt securities using the discounted

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