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Question 7 (20 points) A bond with a fac lue of $10,000 pays interest of 6% per year. This bond will be redeemed at par

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Question 7 (20 points) A bond with a fac lue of $10,000 pays interest of 6% per year. This bond will be redeemed at par vaiue at the end of its 10-year life. You purchased this bond 5 years ago with $4,000 and have received 5 interest payments. You now need some cash and would like to sell this bond to a friend. Your friend offered to pay $3,500 to take it over (your friend will receive all of the future interest and the final redemption). If you want a 7% return rate of this bond investment, what is the PW of this bond investment if you sell the bond to your friend at the offered price? Please round your answer to the nearest integer. Your

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