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(Related to Checkpoint 9.3) (Bond valuation) Doisneau 25-year bonds have an annual coupon interest of 12 percent, make interest payments on a semiannual basis, and

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(Related to Checkpoint 9.3) (Bond valuation) Doisneau 25-year bonds have an annual coupon interest of 12 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 14 percent, are these premium or discount bonds? Explain your answer. What is the price of the bonds

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