d) A $250,000 issue of eight-year bonds redeemable at par offers 8.23% coupons payable semi-annually.

What is the premium or discount and the purchase price of the bonds to yield 6.6%?

] compounded quarterly?

(a) The ______ (premium, discount) is $

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)