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Crow Valley offers an 8 percent coupon bond with semiannual payments and a yield to maturity of 10 percent. The bond matures in 20 years,

  1. Crow Valley offers an 8 percent coupon bond with semiannual payments and a yield to maturity of 10 percent. The bond matures in 20 years, and the face value is $1,000.
    1. What is the market price per bond if the face value is $1,000? (10 points)

  1. Is this a discount or premium bond? (5 points)

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