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Answer :
U.S. corporate bonds typically use a 30/360 day count convention for interest calculations, also known as 'bond basis', which standardizes each month to have 30 days and each year to have 360 days.Therefore, the correct option is b.
The denomination of days used for the calculation of interest on corporate bonds in the United States typically adheres to a 30/360 convention, also known as "bond basis" or "30/360 bond basis". In this method, each month is assumed to have 30 days and a year is assumed to have 360 days for the calculations of accrued interest on the bonds. This approach simplifies the interest calculation by making each month equal and is commonly applied in the corporate bond market.
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