$8.(8$ points$)$ Jenkins Inc., has a bond outstanding with the following parameters: Face value of $$1,000$; coupon of $8\mathrm{.}0\%$ annually; $12$ years to maturity; and investors require an annual return of $11\%,$ this is the yield$-$to$-$maturity of the bond.

$(4$ points$)$ What is the current price of the bond? Is the bond selling at a premium or a discount?

$(4$ points$)$ Suppose in the previous question, coupon is $13\%$ and the yield$-$to$-$maturity is $11\%.$ What is the current price of the bond in this case? Is the bond selling at a premium or a discount?