As a pension fund manager, you estimate that you will pay benefits of about $50 million in 7 years. You decide to buy coupon bonds yielding 7 percent; which pay semiannual coupon and are currently selling at par. If interest rates do not change over the next 7 years, approximately how much money do you need to invest today in these coupon paying bonds to have $100 million in 7 years?

		A) $29,765,305.88
		B) $30,889,089.51
		C) $61,778,179.03
		D) $100,000,000.00