Mintosh Ent has determined that it needs to raise $$8,750,000$ to fund the purchase of a new office building. The manager intends to issue $7-$year bonds with semi$-$annual coupon payments and use the proceeds to finance the purchase of the building. The market interest rate $($discount rate$)$ for such bonds is $8\%.$ Coupon payments will be made at a rate of $9\mathrm{.}0\%.$ i$)$ Calculate the price of these $9\mathrm{.}0\%$ coupon bonds. $(8$ marks$)$ ii$)$ State and explain whether these bonds are premium or discount bonds. $(3$ marks$)$ iii$)$ How many of these coupon bonds would the company have to issue? $(3$ marks$)($iv$)$ Calculate the price of the bonds, if management decides to issue zero$-$coupon bonds instead. How many of these bonds would the company have to issue? $(3+3=6$ marks$)$ a$)$ Why are long$-$term bonds more sensitive to changes in interest rates than short$-$term bonds?