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Maxor Corp, issued 20 Year bonds four years ago at a coupon rate of 5.5%. The bonds make semiannual payments and hav a prar value

Maxor Corp, issued 20 Year bonds four years ago at a coupon rate of 5.5%. The bonds make semiannual payments and hav a prar value of 1,000. If the YTM on thes bonds is 6 percent what is the current bond price? (Price must be in Dollars not yield quotation.) We say this bond sells at a discount or a premium? Why?

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