Question: A client owns a $ 1 , 0 0 0 1 0 - year bond. The coupon rate is 6 percent. The client acquired the

A client owns a $1,00010-year bond. The coupon rate is 6 percent. The client acquired the bond three years ago at a discount. What is knwon about the interest rates three years ago?
A. The stated rate was less than 6 percent.
B. The stated rate was more than 6 percent.
C. The market rate was less than 6 percent.
D. The market rate was more than 6 percent.

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