A $3,000 bond had a coupon rate of 6.30% with interest paid semi-annually. Raymond purchased this bond when there were 7 years left to maturity and when the market interest rate was 7.40% compounded semi-annually. He held the bond for 3 years, then sold it when the market interest rate was 2.40% compounded semi-annually. Calculate the purchase price of the bond. a. $2,822.21 b. $1,018.28 c. $2,812.64 d. $1,803.93