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A company issued 8% annual coupon payment, 12 year bonds, 3 years ago.The market rate on similar bonds is 4.5%. a.What is the clean price

A company issued 8% annual coupon payment, 12 year bonds, 3 years ago.The market rate on similar bonds is 4.5%.

a.What is the clean price of the bond?

b.Is the bond selling at a premium, at par or at a discount?

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