A 10-year annual payment corporate bond has a market price of $1058. It pays annual interest of $60 and its required rate of return is 4 percent. By how much is the bond mispriced?
A. $0.00
B. Overpriced by $7.29
C. Underpriced by $7.29
D. Overpriced by $4.22
E. Underpriced by $4.22
Please explain your answer