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Given a three-year coupon paying bond with face value of $1000, coupon of 10% p.a. and yield of 8% p.a. a) Without calculation for the

Given a three-year coupon paying bond with face value of $1000, coupon of 10% p.a. and yield of 8% p.a.

a) Without calculation for the bond price, state whether the price of this bond exceeds, is equal to or is less than the bond face value. Explain why.

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