Consider a 100$ par value 4% bond with semiannual coupons callable at 109$ on any coupon date from the 5th through the 9th years, at 104.50$ from the 10th through the 14th years and maturing at 100$ at the end of 15 years. What is the highest price which in investor can pay and still be certain of a yield of 3% convertible semiannually