1.2. A company AXK Limited is considering selling an 8-year, 12% coupon bond with a par value of R10,000 on which interest is payable semi-annually. The required return on this bond is 14 %. 1.2.1 Calculate the value of the bond. 1.2.2 will the AXK bond be selling at a premium or discount? Support your answer. 1.3. Explain the difference between a callable and non-callable bond