Similar to the mortgage pass-through security (PT), a competing bond has a par value of $100,000, a 4% coupon paid monthly, and a maturity of 258 months. Like most bonds, the payments on this bond are interest only. The current market rate for similar bonds is 3.5%, and prepayments on the mortgage pass through currently equal $100 per month. Assume rotes immediately rise to 4,5%, and prepayments drop to $5 on the mortgage pass through as a result. What is the price of the bond today? Multiple Choice $98,716 $100,000 $102,343 $93.119