Taylor Company has a bond issue of $$1000$ par value bonds with a $6\%$ annual coupon interest rate. The issue has ten years remaining to the maturity date. Bonds of similar risk are currently selling to yield $8\%$ rate of return.

$1.$ Will the Taylor Company bonds sell for a premium or a discount?

$2.$ Calculate the current value $($what an investor will pay today$)$ of each Taylor Company bond