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A $50,000 bond bears interest at 5.5% payable semi-annually and is redeemable at par on August 4, 2022. The bond is sold on March 20,

A $50,000 bond bears interest at 5.5% payable semi-annually and is redeemable at par on August 4, 2022. The

bond is sold on March 20, 2013, to yield 5.8% compounded semi-annually. Determine the amount of discount or

premium on the sale of the bond.

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