(Related to Checkpoint 9.3) (Bond valuation) Doisneau 19-year bonds have an annual coupon interest of 9 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 12 percent, are these premium or discount bonds? Explain your answer What is the price of the bonds?

b. The price of the bonds is $ (Round to the nearest cent.)