What should Ira pay for an 11.5% bond paying coupons semi-annually, that has a face value of $20,100, a term of 9 years, and a yield-to-maturity of 28.4%?

Select one:

a.

$9,234.99

b.

$9,399.98

c.

$8,314.17

d.

insufficient information to determine

e.

$5,516.94

f.

$3,640.54

g.

$7,393.35