Hello, I am trying to get help on the following: (Bond valuation) Doisneau 24-year bonds have an annual coupon interest of 9 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 11 percent, are these premium or discountbonds? Explain your answer. What is the price of thebonds?

a. If the bonds are trading with a yield to maturity of 11%, then (Select the best choicebelow.)

A.

there is not enough information to judge the value of the bonds.

B.

the bonds should be selling at par because thebond's coupon rate is equal to the yield to maturity of similar bonds.

C.

the bonds should be selling at a premium because thebond's coupon rate is greater than the yield to maturity of similar bonds.

D.

the bonds should be selling at a discount because thebond's coupon rate is less than the yield to maturity of similar bonds.

thanks so much,

Seyhan