Doisneau 20 -year bonds have an annual coupon interest of 12 percent, make interest payments on a
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Question:
Doisneau 20-year bonds have an annual coupon interest of 12 percent, make interest payments on a semiannualbasis, and have a $1,000 par value. If the bonds are trading with amarket's required yield to maturity of 14 percent, are these premium or discountbonds? What is the price of thebonds?
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