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1. Explain the relationship between a bond price's and its YTM? 2. What is meant when a bond is selling at a discount? 3. Lycan,

1. Explain the relationship between a bond price's and its YTM? 2. What is meant when a bond is selling at a discount? 3. Lycan, Inc. has 7% coupon bonds on the market that have 9 years left to maturity. The bonds make annual coupon payments and have a par value of $1,000. If the YTM on the bonds is 8.5%, what is the current price of the bond

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