An outstanding bond has a carrying value of $948,510, and a face value of $1,012,000 on January 1 of Year 3. The bond pays a semi-annual coupon every January 1 and July 1 using an annual coupon rate of 8.90%. The yield to maturity (or the market yield) of the bond was 10.79% at the time of issue. (Assume semi-annual compounding for the annual interest rates.) What will be the carrying value of the bond on July 1 of Year 3 immediately after paying the coupon? a. $978,514 b. $1,050,113 c. $1,002,381 d. $1,026,247 e. $954,648