The put feature of a bond is valuable because it
A) Effectively sets a price floor for the bond
B) Increases the probability that the bond will be called when interest rate decline
C) Allows the bondholders to resell the bond to the issuer at any time
D) Extends the maturity date of the bond at the bondholder's discretion
E) Effectively sets a price ceiling for the bond
Correct Answer:
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