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A ten-year $100 8% bond with semiannual coupons is traded at $118.20 to yield an annual...

A ten-year $100 8% bond with semiannual coupons is traded at $118.20 to yield an annual nominal rate of 6% convertible semiannually. Calculate the redemption value of the bond. Is the bond traded at premium or discount? Explain your answer. Please provide steps (not Excel) and explanation, thank you very much!!

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