Jiayin purchases a ten-year 8% $62,000 par-value bond with annual coupons eighty months after its issue. The original purchaser paid a price to yield 8.5% if the bond was held until maturity, as does Jiayin. Compute the accrued interest by the theorteical method at 8.5% and also by the practical method. Find the split of the accrued intrest by the theoretical method at 8.5% into interest and principal. Please use formals and show all steps. NO EXCEL please. Thank you.

Theoretical method: Practical method:

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