2. (9 points) Ted's Co. offers a six-year semi-annual 8% coupon bond. The market interest rate is 10% annually. What is the current price of this $1,000 face value bond?

(Please show how you got the answer. I know there is 12 periods, the coupon is $40 and the market interest rate is 5%, I also can tell the answer to this question is $911.37 based on other answers on Chegg. I don't know what to do after though. Which formula do I use? I thought 40(1/0.05-1/0.05(1.05)^12 + 1000(1/1.05^12) would give me the correct answer but it seems the first half is wrong, please help.)