Your broker offers to sell for $1,205 a AAA-rated bond with a coupon rate of 8 percent and a maturity of eight years. Given that the interest rate on comparable debt is 5 percent, calculate the bond's price. Assume that the bond pays interest annually. Use Appendix B and Appendix D to answer the question. Round your answer to the nearest dollar. $ Is your broker fairly pricing the bond? -Select- , so the bond -Select- be purchased.