e) Ten $1,000 bonds redeemable at par bearing 7% coupons payable semi-annually are sold eight years before maturity to yield 7.6% compounded annually. What is the premium or discount and the purchase price of the bonds?

(a) The _____ (premium, discounts) is $______

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