Question: 8% coupon bond with $1,000 face value, maturing in 20 years. Payments are paid annually. A. If the market rate is 9%, what is the

8% coupon bond with $1,000 face value, maturing in 20 years. Payments are paid annually.

A. If the market rate is 9%, what is the value of this bond? B. If the market rate is 7%, what is the value of this bond?

with explanation please

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