Wiley Crossing Corp. has an outstanding bond issue of $100 million broken down into $1,000 par value bonds that will mature in 20 years. The coupon rate on the bond is 7% and interest is paid semiannually.

If the required market return on the bond is 7%, will the bond sell at a discount, a premium or at its par value?

Group of answer choices

It will sell at a premium.

It will sell at its par value.

It will sell at a discount.