A corporate coupon-paying bond matures in exactly 20 years. The bond has a face value of $1,000 and a pays an annual coupon rate of 8%. The bond makes annual payments. The yield to maturity is 7% but the bond also has a call provision that allows the issuer to call the bond at the end of year 12 for $1,215. a) (2 Points) Draw a timeline that shows the cash flows of this bond if the issuer does not exercise their call option. (You do not have to draw every single coupon) b) (3 Points) If you are 100% sure that the issuer will not call the bond, what should the price of the bond be? c) (2 Points) Draw a timeline that shows the cash flows of this bond if the issuer calls the bond at the end of year 12. (You do not have to draw every single coupon) d) (3 Points) If the yield-to-call is 6% and you are 100% certain that the issuer will call the bond, what would you be willing to pay for the bond? e) (2 Points) An investor believes there is a 30% chance that the bond will be called at the end of year 12 , but a 70% chance that it will not. What would this investor be willing to pay for the bond