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As a bond fund manager, you are considering corporate bonds issued by Super Buy ( SB ) . Each SB bond is a 4 -

As a bond fund manager, you are considering corporate bonds issued by Super Buy (SB). Each SB bond is a 4-year bond with a par value of $1 million. Its interest payments are based on the following schedule: $50,000 in year 1, $60,000 in year 2, $70,000 in year 3, and $80,000 in year 4. You estimate SBs current interest rate is 6%. What is the price of SB bond (in $million)?

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