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A bond your company issued has par of $1000 and matures in 6 years. It pays annual coupons of $40 each. Annual interest rates are

A bond your company issued has par of $1000 and matures in 6 years. It pays annual coupons of $40 each. Annual interest rates are now 3%.1. What is the value of the bond?2. Premium bond or discount bond?

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