Assume that you are considering the purchase of a $$1,000$ par value bond that pays interest of $$70.$ each six months and has $10$ years to go before it matures. If you buy this bond, you expect to hold it for $5$ years and then to sell it in the market. You $($and other investors$)$ currently require a nominal annual rate of $16$ percent, but you expect the market to require a nominal rate of only $12$ percent when you sell the bond due to a general decline in interest rates. How much should you be willing to pay for this bond?Show how you would do it in a financial calculator HP $10$bii

a$.$ $$842\mathrm{.}00$

b$.$ $$1,115\mathrm{.}81$

c$.$ $$1\mathrm{.}359\mathrm{.}26$

d$.$ $$966\mathrm{.}99$

e$.$ $$731\mathrm{.}85$