QUESTION 3 (Show Work for each part of this Quantitative Question. Including the timeline for the first part ) HMK Enterprises would like to raise $10 million to invest in capital expenditures. The company plans to issue five-year bonds with a face value of $1000 and a coupon rate of 6.9% (annual payments). The following table summarizes the yield to maturity for five year (annual pay) coupon corporate bonds of various ratings: Rating AAA AA A BBB BB Yield to maturity 6.20% 6.30% 6.50% 6.90% 7.50% a. Assuming the bonds will be rated M, what will the price of the bonds bes (Round to 2 decimal places) 1. How much of the total principal amount of these bonds must HMK Issue to raise $10 million today, assuming the bends are Mrated? (Because HMK cannot Insue a fraction of a bond, assume that all fractions are rounded to the nearest whole number)? c. What must the rating of the bonds be for them to sell at par