Suppose that a portfolio manager purchases $$10$ million of par value of an eight$-$year bond that has a coupon rate of $7\%$ and pays interest once per year. The first annual coupon payment will be made one year from now. How much will the portfolio manager have if she $(1)$ holds the bond until it matures eight years from now, and $(2)$ can reinvest all the annual interest payments at an annual interest rate of $6\mathrm{.}2\%?$

A$)$ $$26,978,160\mathrm{.}38$

B$)36,978,160\mathrm{.}38$

$$16,978,160\mathrm{.}38$

D$)-$$$36,978,160\mathrm{.}38$

D

B

C