Question: Citigroup Inc. is going to issue a bond with face value of $100, coupon rate of 3.50%, semiannual coupon payments, maturity of 11 years, and

Citigroup Inc. is going to issue a bond with face value of $100, coupon rate of 3.50%, semiannual coupon payments, maturity of 11 years, and a yield to maturity of 6.00% APR. This bond will allow Citigroup to not make coupon payments for the first 4 years (hence, no coupon payments until after year 4). What is this bonds price?

Group of answer choices

$85.88

$60.50

$67.79

$80.08

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