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A 3 . 8 0 percent coupon municipal bond has 1 0 years left to maturity and has a price quote of 9 4 .

A 3.80 percent coupon municipal bond has 10 years left to maturity and has a price quote of 94.35. The bond can be called in four years. The call premium is one year of coupon payments. (Assume interest payments are semiannual and it has a par value of $5,000.)

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