For each of the following situations, identify whether a bond would be considered a premium bond, a discount bond, or a par bond. (LG 3-2)

a. A bond’s current market price is greater than its face value.

b. A bond’s coupon rate is equal to its yield to maturity.

c. A bond’s coupon rate is less than its required rate of return.

d. A bond’s coupon rate is less than its yield to maturity.

e. A bond’s coupon rate is greater than its yield to maturity.

f. A bond’s fair present value is less than its face value.

AppendixLO1