IRC Definition

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IRC is Internal Revenue Code of 1986 (formerly 1954).

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DOLLAR BOND is long-term municipal bonds quoted on a decimal or dollar price basis versus other municipal bonds, which are normally quoted on the basis of yield to maturity.

EMC (EXPORT MANAGEMENT COMPANY) is a private company that serves as the export agent for manufacturers, being paid by commission or retainer. Merchandise is not normally purchased by the EMC.

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