You are looking at the following Province of Alberta Bond. It will mature $15$ years from today

and has a face value of $$10,000.$ It is named PAB $9$ and it pays coupons on a semi$-$annual basis.

Instruments with a coupon rate of $6\%$ per annum and similar risk, compound periods,

characteristics and maturity are currently trading at par.

$20.$ What is the maximum you would pay today for this Province of Alberta Bond?

a$.$ $$10,000\mathrm{.}00$

b$.$ $$12,549\mathrm{.}07$

c$.$ $$7,556\mathrm{.}67$

d$.$ $$12,940\mathrm{.}07$