Calculate the premium or discount on the sale of a 20-year, $10,000 Molson's corporation bond that was issued 17 years ago with a coupon rate of 13% and is trading today at a yield rate of 7.6% (compounded semiannually) .
A) $6,334.32 Discount
B) $3,665.68 Discount
C) $2,537.32 Premium
D) $1,424.64 Premium
E) $5,105.99 Premium
Correct Answer:
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