A $700,000, ten-year, 9% bond issue was sold to yield 10% interest payable annually. Actuarial information for 10 periods is as follows:

	9%	10%
Present value of 1	0.42241	0.38554
Present value of an annuity of 1	6.41766	6.14456

Refer to Exhibit 14-4. The discount or premium at the date of bond issuance would be