Find the Price a Purchaser Should Be Willing to Pay $\$ 70,000$

Multiple Choice

Find the price a purchaser should be willing to pay for the given bond. Assume that the coupon interest is paid twice ayear.
- $\$ 70,000$ bond with coupon rate $4.4 \%$ that matures in 5 years; current interest rate is $5.9 \%$ .

A) $\$ 52,340.10$
B) $\$ 65,510.20$
C) $\$ 67,050.20$
D) $\$ 53,880.10$