Given below is information about three RM $5000 par value bonds, each of which pays coupon semiannually. The required rate of return on each bond is 12%.

Using the above table, if the company decided to pay coupon annually (12%), calculate the value of the bonds and determine whether the bond is selling at discount, premium or par value.

\begin{tabular}{|c|c|c|} \hline Bond & Coupon Rate (\%) & Maturity (years) \\ \hline 1 & 10 & 5 \\ \hline 2 & 12 & 10 \\ \hline 3 & 14 & 15 \\ \hline \end{tabular}