A person buys a bond whose PAR value (face value) is 50,000. It has a bond rate of 3% per year and pays semi-annual dividends. The person pays 45,000 for the bond and holds it for 5 years. if the person wants to achieve a rate of return on investment of 12% per year what is the selling price needed to achieve this end. (Must show intermediate reasoning, for example the governing equation. A final answer only is not acceptable).