On 1 January 2021, a company-issued Ten-year fixed-interest bonds with a face value of $1 million, paying half-yearly coupons at 5.50 percent per annum. The coupons are payable on 30 June and 31 December each year until maturity.

On 1st April 2023, the holder of the bonds sells at a current yield of 5.75 percent per annum.

Required:

1. Calculate the price at which the investor sold the bond.
2. Show required calculations.
3. show very detailed calculations.