Your broker offers you the opportunity to purchase a bond with coupon payments of $90 per year and a face value of $1000. If the yield to maturity on similar bonds is 8%, this bond should:

1. A) Sell for the same price as the similar bond regardless of their respective maturities.
2. B) Sell at a premium.
3. C) Sell at a discount.
4. D) Sell for either a premium or a discount but it’s impossible to tell which.
5. E) Sell for par value.