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XYZ Company has a callable bond issue outstanding in the market with a coupon rate of 10% and 10 years remaining maturity. It is call-protected

XYZ Company has a callable bond issue outstanding in the market with a coupon rate of 10% and 10 years remaining maturity. It is call-protected for the next three years, sells for $1,135.90, and the quoted market yield is 8%. What must be the contractual call premium for these callable bonds?

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