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A 15-year 1,000 bond with quarterly coupons of $25 is redeemable for 1,200. The bond is priced to yield 8% convertible quarterly. Determine the amount

A 15-year 1,000 bond with quarterly coupons of $25 is redeemable for 1,200. The bond is priced to yield 8% convertible quarterly. Determine the amount of the discount.

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