Callable bond. McCarty Manufacturing Company makes baseball equipment. The company decides to issue a callable bond that it expects to sell for $$580$ per bond. If the bond is a $25-$year annual bond with an annual coupon rate of $6\%$ and a current yield to maturity of $10\%,$ what is the option cost attached to the bond? Assume a $$1,000$ par value.

Hint. Find the price of an equivalent bond without the call option.

What is the price of the bond without the call option?

$($Round to the nearest cent.$)$

Please find the price of an equivalent bond without the call option. As well as the option cost attached to the bond