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3. On March 22, 2007 XYZ Ltd. issued corporate bonds with a face value of S1000, a coupon rate of 6% per year, and quarterly

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3. On March 22, 2007 XYZ Ltd. issued corporate bonds with a face value of S1000, a coupon rate of 6% per year, and quarterly coupons. The bonds mature on March 21, 2027. What is the most you would pay for this bond today (March 22, 2021) if you wanted to earn a 12% APR on your investment? Draw correct cash flow diagram

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