Question: A newly issued 1 0 - year maturity, 6 % coupon bond making annual coupon payments is sold to the public at a price of

A newly issued 10-year maturity, 6% coupon bond making annual coupon payments is sold to the public at a price of $760. The bond will not be sold at the end of the year. The bond is treated as an original-issue discount bond.
Calculate total taxable income.

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