You are planning to buy a semi-annually paid corporate bond with a seven-year maturity that pays 7 percent coupon interest. The bond is priced at $108,500 per $100,000 par value. You expect to sell the bond in two years when a similar-risk five-year bond is priced to yield 7.2 percent annually to maturity. a) Assuming that you can reinvest all cash flows at an 8 percent annual rate (4 percent semiannually), calculate your expected total return over the two-year holding period. (6 points) b) Suppose, instead, that you plan to sell tip bond after 2 years when you expect that the reinvestment rate will be 6% APR. Calculate the expected sale price of the bond and your expected total return. (5 points) c) Explain why the two calculated total returns differ. (3 points)