ABC Corp. issues a 5 year bond in Zomoland where bond investors are paid interest on a quarterly basis and each bond has a maturity value of $5,000. If the bonds annual coupon rate is 2.6% and investors expect a rate of return of 4.5% what should be the price of the bond today?

a.

$ 4577

b.

$ 1379

c.

$ 3158

d.

$ 2197

e.

$ 4118

Please explain how to solve using financial calculator