bond that pays interest every half-year at a coupon rate of9% pais traded on a coupon date. At the time, interest rates in the debt-capital market are at a nominal rate of6% pacompounded half-yearly. Assuming that the bond isredeemedat par, the bond will be priced:

1)at a discount to its face value

2)at a premium to its face value

3)unable to be determined

4) at par