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A company issues $1,000 ten-year bonds with a coupon rate of 6% on January 1, 2014. Interest is paid at the end of the calendar

A company issues $1,000 ten-year bonds with a coupon rate of 6% on January 1, 2014.

Interest is paid at the end of the calendar year. What is the market price of the bonds on January 1, 2018 assuming a market rate of interest 10%. Are the bonds trading at a discount or premium and why?

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