Question $8(1\mathrm{.}5$ points$)$

Last year, company ABC sold $$40,000,000$ worth of $7\%$ coupon, semiannual, $15-$year maturity, $$1,000$ par value, AA$-$rated; non$-$callable bonds to finance its business expansion. Currently, investors are demanding a yield of $8\%$ on similar bonds. If you own one of these bonds and want to sell it now, how much money can you expect to receive on it$?$

ick here to solve the question in Spreadsheet.

a$)$ $$916\mathrm{.}68$

b$)$ $$1,010\mathrm{.}97$

C$)$ $$920\mathrm{.}98$

d$)$ $$888\mathrm{.}98$