4. For each of the following situations, identify whether a bond would be considered a premium bond, a discount bond, or a par bond. ( 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. 5. How does equity valuation differ from bond valuation? ( LG 3-3) 6. What happens to the fair present value of a bond when the required rate of return on the bond increases? ( LG34) 7. All else equal, which bond's price is more affected by a change in interest rates, a short-term bond or a long-term bond? Why? ( ( LG 3-5) 8. All else equal, which bond's price is more affected by a change in interest rates, a bond with a large coupon or a small coupon? Why