An 8-year bond with a face value of $1,000 has a coupon of 4.56% and the market is pricing the bond to yield 5.37%. This is a ________ bond. Group of answer choices

par

discount

premium

zero coupon

Kurt's Steel, Inc. offers a preferred stock with an annual dividend of $3.00 per share. Investors currently require a return of 6.15% on this preferred stock. What should be the current market price of this preferred stock?

Group of answer choices

$39.75

$30.00

$48.78

$51.55