Explain bond that trades at par, premium and discount. Explain zero coupon bonds. Assume that Babyland Corporation has an issue of 10 -year bond with $1,000 par value that pay zero coupon terest. Further assume that today's required rate of return on this bond is 5%. Estimate the value of this bond oday. (5 marks) Estimate the value of this bond if Maxx Corporation bond pays a 10\% coupon on a semi-annual basis. Estimate value of this bond if it matures in 16 years and the market rate is 11%. (8 marks)