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Use the following information to answer questions 3 and 4. ABC Inc. just issued 10-year bonds at a coupon rate of 6.50%. The bonds make
Use the following information to answer questions 3 and 4. ABC 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%, 3. (1.25 points) What is the bond's current price? Round to the nearest $0.01. 4. (1.25 points) 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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