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Buy n Large Gas issued an eight-year bond with a face value of $1,000, annual coupon (stated) rate of 9%, and market rate of 8%.

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Buy n Large Gas issued an eight-year bond with a face value of $1,000, annual coupon (stated) rate of 9%, and market rate of 8%. The interest payments are made on December 31 each year. What is the total premium or discount on the bond? Select one: a. Discount of $55.35 b. Premium of $55.35 c. Premium of $57.47 Od. Discount of $57.47

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