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Kebt Corporation's Class Semi bonds have a 12-year maturity and an 11.50% coupon paid semiannually ( 5.75% each 6 months), and those bonds sell at

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Kebt Corporation's Class Semi bonds have a 12-year maturity and an 11.50% coupon paid semiannually ( 5.75% each 6 months), and those bonds sell at their \$1,0oo par value. The firm's Class Ann bonds have the same risk, maturity, nominal interest rate, and par value, but these bonds pay interest annually. Neither bond is callable. At what price should the annual payment bond sell? Do not round your intermediate calculations. a. $1,000.00 b. $636.26 c. $986.08 d. $1,064.30 e. $979.36

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