8. JP Morgan underwrites an issuance of U of A bonds with a par value of $75 million, 12 years until maturity, and annual coupon payments. The coupon rate is set at 3.5% the day before the issuance. If interest rates change by the following amount the day of the issuance, how much money will U of A actually raise? a. Decrease by 0.5%$78,732,751.50 b. Decrease by 0.25%$76,838,826.82 c. Remain unchanged $75,000,000 d. Increase by 0.25%$73,214,494.89 e. Increase by 0.50%$71,480,897.34