7. (A bond forward) A certain 10-year bond is currently selling for $920 A friend of yours owns a forward contract on this bond that has a delivery date in 1 year and a delivery price of $940 The bond pays coupons of $80 every 6 months, with one due 6 months from now and another just before maturity of the forward. The current interest rates for 6 months and 1 year (compounded semiannually) are 7% and 8%, respectively (annual rates compounded every 6 months) What is the current value of the forward contract?