K corp. has an existing bond that has a par value of $1,000 and an 7% coupon rate. The issue pays interest annually and has 10 years remaining to its maturity date. Bonds of similar risk have a yield of 11%. Calculate the value of these bonds and indicate if it is a discount bond or premium bond. Regardless whether you use calculator, formula or excel function in the calculation, you are required to show the input value for each relevant TVM variables, such as X,1,PMT,PV,FV. (Hew is a sample answer for a TFM questions if there are ary