Question $11(4$ points$)$

Calculate the market value of a $$100,000$ bond that carries a coupon rate of $8\%$ and has $7\frac{1}{2}$ years remaining to maturity. The current market rate on this bond is $6\mathrm{.}68\%$ compounded semi$-$annually.

$$92,661$

$$96,513$

$$107,689$

$$109,223$