how do i reinstall the OS on an iMac that was given to me

I

iMore Question

I was given this iMac because the original owner purchased a new one. He said he wiped everything & then tried to reinstall the OS from the disk that came with the iMac. then he couldn't eject the disk. I got the disk out but when i reinsert it says that the OS can't be reinstalled from this disk.
What can I do to get this iMac up & running
 

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