A corporate bond issued 3 years ago with a coupon rate of 4% is now selling in the secondary market for $1,100. The coupon interest is paid semi-annually.
a) What is the bond's par value?
b) Is the bond trading in the secondary market at par, at a discount, or at a premium?
c) If you own one of these bonds, how much interest will you receive on each coupon payment date?