The ABC corporation issues a 4% coupon bond that matures on June 30, 2032. You are talking to the broker (trade date) about the bond on Feb. 28th, 2022. The broker quotes you a yield of 4.25%. Your first calculation produces a price of 97.9001, but the broker points out (she probably would give up on the trade at this point, but lets assume she takes pity on you) that the coupons step-up after one year to 4.50% and remain at that level to maturity. Compute the amount of money the broker is expecting you to send her to pay for a $1mm face value bond. Explain why the 4% coupon bond is selling above par.