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A $260,000 issue of twelve-year bonds redeemable at par offers 9.35% coupons payable annually. What is the premium or discount and the purchase price of

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A $260,000 issue of twelve-year bonds redeemable at par offers 9.35% coupons payable annually. What is the premium or discount and the purchase price of the bonds to yield 8.9% compounded semi-annually? (a) The is $[ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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