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Briar Corp is issuing a 9-year bond with a coupon rate of 71 percent. The interest rate for similar bonds is currently 12.7 percent. Assuming

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Briar Corp is issuing a 9-year bond with a coupon rate of 71 percent. The interest rate for similar bonds is currently 12.7 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) O $709, discount $1.045. discount O $1,045, premium $709, premium

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