Final answer:
The party that benefits from the call provision in a bond with a high coupon rate selling at a premium and called at par is the issuer of the bond.
Step-by-step explanation:
A bond with a high coupon rate is selling at a premium and is called at par. The party that benefits from the call provision is the issuer of the bond. The issuer can call or redeem the bond at par value before its maturity date. By doing so, the issuer can take advantage of lower interest rates and refinance the bond at a lower cost.