Question: 35, solve using financial calculator and explain why each number goes in each category please Assume that a 25-year bond with a face value of

35, solve using financial calculator and explain why each number goes in each category please

Assume that a 25-year bond with a face value of $1,000 has a 8% coupon rate and is compounded semi- annually. The bond is callable after 15 years at 108% of par value and the market rate in todays market is 7%. What is the value of the bond? (rounded to the nearest number)

$1,117
$1,240
$1,120
$954
$978

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