A tax-exempt bond was recently issued at an annual 8% coupon rate and matures 20 years from today.  The par value of the bond is $5,000.  If the required market rates at 8%, what is the market price of the bond? If the required market rates fall to 4%, what is the market price of the bond? If the required market rates rise to 12%, what is the market price of the bond? At 8% the bond sells at , at 4% the bond sells at, at 12% the bond sells at?  You will enter Discount, Premium, or Par Value as your answer.

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