$($Related to Checkpoint $9\mathrm{.}3)($Bond valuation$)$ Doisneau $20-$year bonds have an annual coupon interest of $11$ percent, 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 $15$ percent, are these premium or discount bonds? Explain your answer. What is the price of

the bonds?

a$.$ If the bonds are trading with a yield to maturity of $15\%,$ then $($Select the best choice below.$)$

A$.$ the bonds should be selling at a premium because the bond's coupon rate is greater than the yield to maturity of similar bonds.

B$.$ the bonds should be selling at a discount because the bond's coupon rate is less than the yield to maturity of similar bonds.

C$.$ there is not enough information to judge the value of the bonds.

D$.$ the bonds should be selling at par because the bond's coupon rate is equal to the yield to maturity of similar bonds.