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Wheat 20 -year bonds have a 10 percent annual coupon interest, make interest payments on a semiannual basis, and have a $1,000 par value. If

Wheat 20 -year bonds have a 10 percent annual coupon interest, make interest payments on a semiannual basis, and have a $1,000 par value. If the bonds are trading with a 12 percent market's required yield to maturity, are these premium or discount bonds? Explain your answer. What is the price of the bonds? ( 5 marks)

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