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To: Andy H who wrote (6315)3/30/1999 11:23:00 PM
From: Mike Buckley  Read Replies (1) | Respond to of 9068
 
Using $850 million as the future value and discounting it 5.25% annually for 15 years, the present value is $395 million.

By the way, there is no coupon. That's why they're called zero-coupon bonds.

--Mike Buckley