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Suppose the coupon rate on a bond is 8% and the payment is made once a year, PAR value=100$. The time-to-maturity is five years and

Suppose the coupon rate on a bond is 8% and the payment is made once a year, PAR value=100$. The time-to-maturity is five years and the market discount rate is 6%

1) What is the price of the bond?

2) Is it trading at discount or at a premium?

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