Nine years ago the Templeton Comp your answer to two decimal places.

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Why should or should not the investor be happy that Templeton called them?

III. Investors should be happy. Since the bonds have been called, investors will receive a call premium and can declare a capital gain on their tax returns.

IV$.$ Investors should be happy. Since the bonds have been called, investors will no longer need to consider reinvestment rate risk.

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