QUESTION 25 A friend of yours is interested in investing in new bond called Afro-Blue which offers 11% coupon rates compounded semiannually. These bonds have 8 years to maturity and a par value of $1,000. If market interest rates (yield to maturity) are currently at 8%. How much should your friend expect pay for the bond? (Spoints). SHOW YOUR WORK WITH FORMULAS, CALCULATIONS, AND RESULT IN THE SPACE BELOW