Clifford Clark is a recent retiree who is interest in investing some of his savings in corporate bonds this financial plans has suggested the following bonds.
Bond A has 12% annual coupon matures in 12 years and has a 1,000 par value
Bond B 10% annual coupon matures in 12-year and has a 1,000 par value
Bond C 11% annual coupon , matures in 12 years and has a 1.000 par value
each bond has a yield to maturity of 11%
a. before calculating the prices of the bonds, indicate whether each bond is trading at a premium, discount or at a par