A firm has an issue of $1,000 par value bonds with a 9 percent coupon. The issue pays interest annually and has 10 years remaining to its maturity date. If bonds of the same risk are currently earning 8 percent, what is the price of the bond?

Question 20 options:

1) $1,135.26

2) $915.29

3) $1,067.10

4) $951.53