Peter Kim Wanted to Buy a New Car

Peter Kim wanted to buy a new car. To help finance the purchase, he decided to sell his Organic Markets bond in the secondary market. Peter's bond had a par value of $10,000 and a coupon of 6 percent. Current interest rates were 3 percent. What would Peter's bond sell for?

A) for par value
B) for $10,600
C) at a discount to par value
D) for $9,700
E) at a premium to par value