Suppose that every time a fund manager trades stock
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1on january 1 2013 rapid airlines issued 200 million of its 8 bonds for 184 million the bonds were priced to yield 10
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suppose that every time a fund manager trades stock transaction costs such as commissions and bidndashask spreads
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on august 1 2013 limbaugh communications issued 30 million of 10 nonconvertible bonds at 104 the bonds are due on july
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