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Seven years ago, Sheffield Corporation issued 20 -year bonds that had a $1,200 face value, paid interest annually, and had a coupon rate of 10

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Seven years ago, Sheffield Corporation issued 20 -year bonds that had a $1,200 face value, paid interest annually, and had a coupon rate of 10 percent. If the market rate of interest is 5.5 percent today, what is the current market price of an Sheffield Corporation bond? (Round intermedlate calculations to 5 decimal places, eg. 1.25145 and final answer to 2 decimal places, e.g. 52.75.) Are these bonds selling at a premium or discount? These bonds are selling at a

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