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A bond with face value 700 has semiannual coupons, a nominal coupon rate of 6% convertible semiannually, and a term of 9 years. The bond
A bond with face value 700 has semiannual coupons, a nominal coupon rate of 6% convertible semiannually, and a term of 9 years. The bond price is 625.76 and it can be called after 7 years with an additional call premium of XX. The bond has the same annual nominal yield rate of 4.1% payable semiannually, whether it is called early or not. Find the call premium XX. (Round your answer to the nearest 2 decimal places.)
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