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A $70,000, 8.50% bond redeemable at par, with annual coupon payments, is purchased 11 years before maturity to yield 4.00% compounded annually. a. What was

A $70,000, 8.50% bond redeemable at par, with annual coupon payments, is purchased 11 years before maturity to yield 4.00% compounded annually. a. What was the purchase price of the bond? $0.00 Round to the nearest cent b. What was the amount of discount or premium on the bond?

amount is $0.00 Round to the nearest cent

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