*************THIS PROBLEM MUST BE SOLVED IN EXCEL FORMAT PLEASE SHOW EACH STEP INCLUDING FORMULAS **********

McCurdy Co's Class Q bonds have

a 12 year maturity

$1,000 par value

and a 5.75% coupon paid semi-annually (2.875% each 6 months)

and those bonds sell at their par value.

McCurdy's Class P bonds have the same risk, maturity and par value,

BUT the p bonds pay 5.75% ANNUAL COUPON.

At what price should the ANNUAL PAYMENT bond sell?

**********************MUST BE DONE ON EXCEL SPREADSHEET AND SHOW YOUR WORK INCLUDING FORMULAS****************