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Show the formulas, not Excel. WWW Inc. just issued 10-year bonds at a coupon rate of 6.50%. The bonds make annual payments and have a

Show the formulas, not Excel.

WWW Inc. just issued 10-year bonds at a coupon rate of 6.50%. The bonds make annual payments and have a par value of $1,000. The yield to maturity is 8.50%,

1. What is the bonds current price? Round to the nearest $0.01.

2. Is the bond selling at discount, premium, or par? Please answer with a one-word answer. Either discount, premium, or par.

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