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Use the following information to answer the question(s) below.
-Wyatt Oil is contemplating issuing a 20-year bond with semiannual coupons,a coupon rate of 7%,and a face value of $1000.Wyatt Oil believes it can get a BBB rating from Standard and Poor's for this bond issue.If Wyatt Oil is successful in getting a BBB rating,then the issue price for these bonds would be closest to:
Lapse
The termination or expiration of a legal right, policy, or agreement due to the passage of time or inaction.
Rescission
The act of unilaterally terminating a contract and returning all parties involved to the positions they were in prior to entering the contract.
Pre-Approved
Describes a preliminary endorsement, often in the context of finance, indicating eligibility for certain benefits or offers without final authorization.
Death Benefit
A sum of money paid by an insurance policy or retirement plan to the beneficiary upon the death of the insured person or plan holder.
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