ToyCorp. is planning to raise additional investor capital by issuing bonds. The company plannedto raise $1,500,000 using bonds with a $1,000 face value (assuming each bond is sold at its par value). The bonds will mature in 22 years,are callable in 4 years, carry a coupon interest rate of 9.50%, and will pay interest semiannually. If the market's current required rate of return for debt with similar risk characteristics asToyCorp. is 8.25%, how much money willthe companyactually raise, in total, through the issuance of these bonds?

Will you show the work for this? The correct answer for this is $1,688,890.81 per my professor. I got this far in calculation but I am missing something. I'm assuming my calculation is correct because I was given 3 points out of a possible 4 for this question, My calculations when plugged into a financial calculator were: (SEMIANNUAL) FV=1000, N=44, PMT=47.5, I=4.1250 SO PV=112.93

1000=FV, N=22*2=44, PMT=95/2=47.5, I=8.25/2=4.1250, FIND PV AT SEMI ANNUAL

PV=1125.9272

1000=FV, N=22*2=44, PMT=95/2=47.5, I=8.25/2=4.1250, FIND PV AT SEMI ANNUAL

PV=1125.9272

1000=FV, N=22*2=44, PMT=95/2=47.5, I=8.25/2=4.1250, FIND PV AT SEMI ANNUAL

PV=1125.9272

1000=FV, N=22*2=44, PMT=95/2=47.5, I=8.25/2=4.1250, FIND PV AT SEMI ANNUAL

PV=1125.9272