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Bond P is a premium bond with a coupon rate of 8 . 5 percent. Bond D is a discount bond with a coupon rate

Bond P is a premium bond with a coupon rate of 8.5 percent. Bond D is a discount bond with a coupon rate of 4.5 percent. Both bonds make annual payments, a YTM of 6.5 percent, a par value of $1,000, and have ten years to maturity.

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