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A $ 2 6 0 , 0 0 0 issue of six - year bonds redeemable at par offers 8 . 5 5 % coupons

A $260,000 issue of six-year bonds redeemable at par offers 8.55% coupons payable semi-annually. What is the premium or discount and the purchase price of the bonds to yield 9.1% compounded annually.

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