Question: QUESTION 1 Consider a $ 1 , 0 0 0 par value bond issued by General Motors with a stated coupon rate of 1 0

QUESTION 1
Consider a $1,000 par value bond issued by General Motors with a stated coupon rate of 10%, making coupon payments semiannually. The bond had 15 years left to maturity, and the market's required yield to maturity for similar rated debt was 8%. If the market's required yield to maturity on a comparable risk bond is 8%, what is the value of the General Motors bond? Determine whether the bond will trade at premium, discount, or par?
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QUESTION 1 Consider a $1,000 par value bond issued by General

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