Question: Problem 10.3 (b) A newly issued 10-year maturity, 6% coupon bond making annual coupon payments is sold to the public at a price of $760.

Problem 10.3 (b) A newly issued 10-year maturity, 6% coupon bond

Problem 10.3 (b) 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. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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