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3 (15 points). A 10-year municipal bond was issued 4 years ago. Its coupon interest rate is 10% per year, interest payments are made semiannually,

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3 (15 points). A 10-year municipal bond was issued 4 years ago. Its coupon interest rate is 10% per year, interest payments are made semiannually, and its face value is $2500. The current bold holder wants to sell the bond (immediately after the 8th semiannual interest payment). If the current market interest rate is 6.09%/year, what should be the bond's price

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