A bond has a face value of $$1,000$ and an annual interest payment of $$80.$ What is its coupon rate and what would its be if the bond sold for $$720$ in the secondary bond market?

$8\%$ and $11\mathrm{.}1\%,$ respectively

$8\%$ and $7\mathrm{.}2\%,$ respectively

$80\%$ and $111\%,$ respectively

$12\mathrm{.}5\%$ and $9\%,$ respectively