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Ivory Corporation issued a 5% coupon bond four years ago at par value. The market interest rate on comparable bonds today is 6%. This bond

Ivory Corporation issued a 5% coupon bond four years ago at par value. The market interest rate on comparable bonds today is 6%.

		This bond sells at a discount and the coupon rate is lower than the yield.
		This bond sells at a premium and the coupon rate is lower than the yield.
		This bond sells at a premium and the coupon rate is higher than the yield.
		This bond sells at a discount and the coupon rate is higher than the yield.

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