A $ 1,000 face value bond has a current market price of $ 935, an 8% coupon rate, and 10 years remaining until maturity. Interest payments are made semi annually. Before you do any calculation, decide whether the yield to maturity is above or below the coupon rate, why?

a)what is the implied market determined semi annual discount rate on this bond?

b)using your answer in part (a), whats the bond nominal annual yield to maturity