A bond has the following characteristics: a. Face Value of $1,000 b. Coupon rate of 8% c. Pays interest annually d. Is a 20-year bond If similar bonds are priced at 9%, what should be the issue price for the bond? Use the below table as your guide, plus the attached TVM tables.

Cash Flow Title	Cah Flow Amount	Factor	Present Value
		Issue Price:

If issued, will the bond be issued at par, at a discount, or at a premium.