Callable bond. McCarty Manufacturing Company makes baseball equipment. The company decides to issue a callable LOADING... bond that it expects to sell for $$$$7$ comma $2207,220$ per bond. If the bond is a $3030-$year monthlymonthly bond with an annual coupon rate LOADING... of $12\%12\%$ and a current yield to maturity LOADING... of $88\%,$ what is the option cost attached to the$$ bond? Assume a $$$$5$ comma $0005,000$ par value LOADING... $.$

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

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Part $1$

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

$$$enter your response here$($Round to the nearest$$ cent.$)$

Part $2$

What is the cost of the call option attached to the$$ bond?

$$$$51\mathrm{.}51.($Round to the nearest$$ cent.$)$