a) The yield to maturity of a $1,000 face value bond with 7% coupon rate, semiannual coupons, and five years to maturity is currently 7.6% APR, compounded semiannually. What is the price of this bond? Is this bond trading at a premium, at a discount, or at par?

b) Assume one year has passed. Interest rates have fallen over the past year suck that the yield to maturity of this bond is now 6.5% APR, compounded semiannually. What is the new price of the bond today? Is the bond trading at a premium, at a discount, or at par?