Problem $7-21$ Compute Bond Price $($LG$7-4)$

Compute the price of a $6\mathrm{.}3$ percent coupon bond with $15$ years left to maturity and a market interest rate of $10\mathrm{.}4$ percent. $($Assume interest payments are semiannual.$)($Do not round intermediate calculations. Round your final answer to $2$ decimal places.$)$

Bond price

Is this a discount or premium bond?

discount bond

premium bond