Question $9$

Your broker offers you the opportunity to purchase a bond with coupon payments of $$110$ per year and a

face value of $$1,000.$ If the yield to maturity on similar bonds is $8\%,$ this bond should

$($a$)$ sell for the same price as similar bonds regardless of maturity

$($b$)$ sell at a premium

$($c$)$ sell at a discount

$($d$)$ sell for $$1,000$