Question: Edison Inc has a bond outstanding with a face value of $1,000 that reaches maturity in 8 years. The stated coupon rate for this bond

Edison Inc has a bond outstanding with a face value of $1,000 that reaches maturity in 8 years. The stated coupon rate for this bond is 9% and the coupon payments are made semiannually. Assuming the YTM on the Edisons bond is 12%, what is the price of this bond? and what type of bond is this?

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