Question: Doisneau 15-year bonds have an annual coupon interest of 13 percent, make interest payments on a semiannualbasis, and have a $1,000 par value. If the

Doisneau 15-year bonds have an annual coupon interest of 13 percent, make interest payments on a semiannualbasis, and have a $1,000 par value. If the bonds are trading with amarket's required yield to maturity of 12 percent, are these premium or discountbonds?

What is the price of thebonds?

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