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Manufacturing Inc bonds have an 8.3% coupon rate, payable semiannually, and a par value of $1,000. They mature exactly 10 years from today. The yield

Manufacturing Inc bonds have an 8.3% coupon rate, payable semiannually, and a par value of $1,000. They mature exactly 10 years from today. The yield to maturity is 11%, so the bonds now sell below par.

What is the current market value of the firms Bond? (SHOW ALL WORK)

Is this discount a premium bond and why? (SHOW ALL WORK)

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