Question 3 of 9 To raise $5,500,000 to expand into new markets, a very successful laptop manufacturing company issued bonds in the market with a coupon rate of 7.00%, paying interest every 6 months, and redeemable in 20 years. They established a sinking fund to retire this debt on maturity and made equal deposits into the fund at the end of every half-year. a. If the fund was earning 5.40% compounded semi-annually, calculate the periodic cost of the debt. Round to the nearest cent b. Calculate the book value of the debt after 11 years. Question 3 of 9 To raise $5,500,000 to expand into new markets, a very successful laptop manufacturing company issued bonds in the market with a coupon rate of 7.00%, paying interest every 6 months, and redeemable in 20 years. They established a sinking fund to retire this debt on maturity and made equal deposits into the fund at the end of every half-year. a. If the fund was earning 5.40% compounded semi-annually, calculate the periodic cost of the debt. Round to the nearest cent b. Calculate the book value of the debt after 11 years