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Calculate the purchase price of a $10,000 bond with 3.5% bond rate and semi-annual coupons redeemable at 104 in seven years if the bond is

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Calculate the purchase price of a $10,000 bond with 3.5% bond rate and semi-annual coupons redeemable at 104 in seven years if the bond is bought to yield 2.5% compounded semi-annually? Select one: a. $10,974,68 b. $8,603.72 c. $11,127.02 d. $9,633.13

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