Please explain in a paragraph why the highlighted answer is the correct answer. For each incorrect answer please explain in a paragraph why it is incorrect.

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4. Which one of the following correctly explains how to find the price of a $1,000 par value, 20 -year 8% coupon bond with semiannual payments and a yield to maturity of 6% ? a. Future value of a 20 perlod $80 ordinary annulty at a discount rate of 6% per perlod plus the present value of a $1,080 lump sum payment in 20 periods at a discount rate of 6% per period. b. Present value of a 40 period $40 ordinary annuity at a discount rate of 3% per period plus the present value of a $1,000 lump sum payment in 40 periods at a discount rate of 3% per period. c. Present value of a 20 period $80 annuity at a discount rate of 6% per period plus the present value of a $1,000 lump sum payment in 20 periods at a discount rate of 6% per period. d. Present value of a 40 period $60 ordinary annuity at a discount rate of 4% per period plus the present value of a $1,000 lump sum payment in 40 periods at a discount rate of 4% per period. e. Present value of a 20 period $80 annuity at a discount rate of 6% per period plus the present value of a $1,080 lump sum payment in 20 periods at a discount rate of 6% per period