17) Today is February 15, 2011. What is the price at which you can sell your ABC bond if it is quoted at 105% of its $1,000 face value? Noting that ABC bond pays interest semi- annually, has a coupon rate of 6%, and matures on January 1, 2020 (assume 365 days per year) (pick the nearest answer).

A) 1,046.22

B) 1,050.00

C) 1,051.00

D) 1,053.78

Answer is 1,053.78, please show steps to find solution