Assume that Phuket Beach Hotel's $1,000-par-value bond had a 5.700% coupon,matured on May 15, 2017, had a current price quote of 97.708, and had a yield to maturity (YTM) of 6.034%. Giving this information, answer the following questions:
a. What was dollar price of the bond?
b. Is the bond selling, a part, at a discount or at a premium? Why?