1. Which one of the following statements is correct concerning discount bonds?

Group of answer choices

The current yield is less than the yield to maturity.

The bonds will be redeemed at maturity for less than face value.

The coupon rate is greater than te current yield.

The clean price is greater than the dirty price.

Only zero-coupon bonds sell at a discount.

2. bond has a Macaulay duration of 6.7 years, a yield to maturity of 3.3 percent, a coupon rate of 4.5 percent, and semiannual interest payments. What is the bond's modified duration?

6.59 years

6.84 years

6.92 years

7.06 years

7.26 years