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A 5.4 percent corporate coupon bond is callable in five years for a call premium of one years of coupon payments. Assuming a par value

A 5.4 percent corporate coupon bond is callable in five years for a call premium of one years of coupon payments. Assuming a par value of $1000, what is the price paid to the bondhoder if the issuer calls the bond?

$54

$946

$1000

$1054

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