32) (15 points) Suppose that you have some obligation to pay $1,601.81 in 4 years time. You have elected to fund this liability by purchasing a 5 year bond with a 12.50% annual pay bond (the annual coupons are paid at the end of each year) with a face value of $1,000 at a purchase price of par ($1,000). Demonstrate that your liability will be fully funded at its due date in 4 years by this bond, irrespective of any interest rate changes. (Assume that any interest rate change occurs an instant after purchasing the bond.) Complete the following table showing that the combined value of the sales price of your bond at the end of 4 years, and the accumulated interest earned over the 4 year period is at least equal to your liability payment. New Interest Rate Accumulated interest Selling Price Total Terminal Valu 8% 10% 14% 16%