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Bond P is a premium bond with a coupon rate of 9 . 6 percent. Bond D is a discount bond with a coupon rate

Bond P is a premium bond with a coupon rate of 9.6 percent. Bond D is a discount bond with a coupon rate of 5.6 percent. Both bonds make annual payments, a YTM of 7.6 percent, a par value of $1,000, and have eleven years to maturity.

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