Question: A bond is sold less than its par value. Which of the following features currently apply to this bond? I. discounted price II. premium price

A bond is sold less than its par value. Which of the following features currently apply to this bond? I. discounted price II. premium price III. yield-to-maturity that exceeds the coupon rate IV. yield-to-maturity that is less than the coupon rate I and IV only III only I and III only II and III only II and IV only

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