Covetton House has issued $10 million of debentures, with a fixed-interest coupon equal to current interest rates of 10.64% per annum, coupons paid half-yearly and a maturity of 14 years. After 5 years, yields on identical types of securities have fallen to 7.04% per annum. What is the value, or price, of the existing debenture in the secondary market? a. $7947503.07 b. $7978460.64 c. $7931510.36 d. $11368121.96 e. $12384945.71 f. $12370211.30 g. \$12341497.78