10. Assuming that you are considering the purchase of a 20-year, non-callable bond with an annual coupon rate of 6.5%. The bond has a face value of $1,000 and it makes semiannual interest payments. If you require a 5.4% nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond?

a) $1,105.69 b) $1,132.55 c) $1,161.67 d) $1,190.71 e) $1,220.48

can you please show all work