3. Use your BA II Plus calculator to answer the following. A bond has a face (or par or principal) amount of $50,000. The bond was issued on January 1, 2010 and matures on December 31, 2014 (thats FIVE years from start to maturity). The bond pays interest semi-annually (your P/Y key = 2). The bond pays interest at a face (or coupon) rate of 8%. What is the price (or market value) of this bond if market rates have fallen to 6%? In your calculations, round only your answer (the market value of the bond) to the nearest dollar. Do not round any other amount in the problem.

A. $17,060

	B.	$45,945
	C.	$50,000
	D.	$52,290
	E.	$54,265