can you show step by step work?

UNUI HMK Enterprises would like to raise $8 million to invest in capital expenditures. The company plans to issue five-year bonds with a Hace value of $1,000 and a coupon rate of 8.8% (annual payments). The following table summarizes the yield to maturity for five-year annual-pay) coupon corporate bonds of various ratings Rating AAA AA BBB BB YTM (%) 82 8.3 88 9.3 9.4 a. Assuming the bonds will be rated AA, what will the price of the AA-rated bonds be? b. How much total principal amount of these bonds must HMK issue to raise $8 million today, assuming the bonds are AA rated? (Because HMK cannot issue a fraction of a bond, assume all fractions are rounded to the nearest whole number) c. What must the rating of the bonds be for them to sell at par? d. Suppose that when the bonds are issued, the price of each bond is $976 90 What is the likely rating of the bonds? Are they junk bonds? Note Assume annual compounding a. Assuming the bonds will be rated AA, what will the price of the AA-rated bonds be? The price of the bonds will be $ (Round to the nearest cent) Enter your answer in the answer box and then click Check Answer 3 parts Check Answer Clear All remaining