Edgar purchased a 14-year 4% semiannual coupons bond with face amount 100 that is callable on any coupon date in the 8th to 14th years: (1) In the 8th year, the bond is callable at redemption amount of 105. (ii) In the 9th to 12th year, the bond is callable at redemption amount of 87. (iii) In the 12th to 14th year, the bond is callable at par. Find the maximum price Edgar should pay in order to ensure a minimum nominal annual rate of 6% compounded semiannually. Possible Answers A 102.63 B 87.25 81.24 D 90.55 E 76.70