2) Nanotech, Inc., has a bond issue maturing in seven years that is paying a coupon rate of 9.5 percent (semiannual payments) , and the face value of the bond is $1,000. The company wants to retire a portion of the issue by buying the securities in the open market. If it can refinance at 8 percent, how much will Nanotech pay to buy back its current outstanding bonds? On Excel