question for bonds

The information in Table 1 below refers to questions 3 and 4. Table 1 Bond Par Value ($) Annual Coupon Interest Years to Maturity Yield to Maturity Rate (%) (%) L 1,000 9 5 6 M 100 10 8 10 N 500 18 6 15 Table 1 above shows the annual coupon interest rate, par value, years to maturity and yield to maturity of three bonds: L, M and N. 3. (i) Determine the current price of Bond L. (ii) Is the bond trading at a discount, premium or par? (6 marks) 4. (i) Calculate the current value of Bond M. (ii) Is the bond trading at a discount, premium or par? (iii) What would happen to the price of the bond if the yield to maturity increases? (6 marks)