A $1,000, 5.5% coupon bond has 8 years remaining until maturity. Calculate the bond discount if the required return in the bond market is 6.3% compounded semiannually. (Round your answer to the nearest cent.) Bond discount $____

Assume that: Bond interest is paid semiannually. The bond was originally issued at its face value. Bonds are redeemed at their face value at maturity. Market rates of return are compounded semiannually.