ABC Corp. wants to issue FCB. The firm has estimated that its cost of debt is 8%. It has decided to issue 30 year FCBs. However, it is deciding on the coupon rate (annual). The choices are (a) 5%, (b) 8%, and (c) 11%

The Price of the bonds under the three alternatives?

a. Coupon of 5%: PV=?

b. Coupon of 8%: PV=?

c. Coupon of 11%: PV=?

CAN YOU PLEASE GIVE DETAIL STEPS IN HOW YOU ACHIEVE ANSWER, NO EXCEL , NO CALCULATOR I would like to learn the steps in finding the answer