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28 of 30 Assume that you wish to purchase a 20-year bond that has a maturity value of $1,000 and makes semi-annual interest payments of

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28 of 30 Assume that you wish to purchase a 20-year bond that has a maturity value of $1,000 and makes semi-annual interest payments of $40. If you require a 10% per annum nominal yield to maturity (5% effective semiannual yield) on this investment, what is the maximum price you should be willing to pay for the bond? O a $828 O b. $572 Oc. $902 d. $761 $489

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