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java.util.concurrent.Callable way of creating threads

Last Modified: 2015-09-08

To create thread i am only familiar with 2 ways.
1. extending Thread class
2. implementing Runnable interface.

I am not familiar with below third method
java.util.concurrent.Callable way of creating threads

When this 3rd way is introduced and what are advantaged and disadvantages of using it over other two ways. please advise
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