19- Berridale Trout Farm Ltd has just issued some corporate bonds that have a 10-year term to maturity. The face value per bond is $1,000; the coupon rate is 6% p.a., paid quarterly, with coupons being paid four times per annum. Assume that similar bonds trade at a market rate of interest of 8% p.a.,quarterly. The best estimate of the value of one of these bonds is

Select one:

a.$873.92

b.$853.41

c.$884.10

d.$863.22