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( Related to Checkpoint 9 . 3 ) ( Bond valuation ) Doisneau 1 7 - year bonds have an annual coupon interest of 9

(Related to Checkpoint9.3)(Bond valuation) Doisneau 17-year bonds have an annual coupon interest of 9percent, make interest payments on a semiannual basis, and have a $1,000 par value. If the bonds are trading with a market's required yield to maturity of 12percent, are these premium or discount bonds? Explain your answer. What is the price of the bonds?
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