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Briar Corp is issuing a 12-year bond with a coupon rate of 6.7 percent. The interest rate for similar bonds is currently 10.8 percent. Assuming

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Briar Corp is issuing a 12-year bond with a coupon rate of 6.7 percent. The interest rate for similar bonds is currently 10.8 percent. Assuming annual payments, what is the present value of the bond? And this bond is selling at (Do not round intermediate computations. Round your final answer to the nearest dollar.) $731, premium O $731, discount $1,045, premium O $1.045, discount

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