3. A local listed company in the construction sector, but internationally known company, has issued bonds (debentures) 3 years ago and is heading for another 20 years of maturity. The face value of each bond was RM10,000 at a coupon rate that is being experienced by the sector at the moment. The opportunity cost is ranging from 7 to 9 per cent. Evaluate the intrinsic value of this bond as of today, using the above input. You may use your own assumption(s) wherever appropriate. Include the discussion on the correlation between pricing and market rate, coupon rate and pricing. [20 marks]