You MUST use the TI BA II calculator features (N, I/Y, PV, PMT, FV) to solve questions

-- A $75 million face value bond carrying a 4.45% coupon is issued with 35 years until maturity. The sinking fund provision requires 80% of the face value to be saved up by the maturity date. The sinking fund is projected to earn 4.95% compounded semi-annually.

b. Calculate the total interest earned by the sinking fund.

You MUST use the TI BA II calculator features (N, I/Y, PV, PMT, FV) to solve questions

c. Calculate the annual cost of the bond debt.

d. Determine the book value of the bond debt after the 29th payment.