Assume that the investor wishes to purchase a 20-year bond with a maturity value of $1,000 and the coupon payments is 7% of maturity value. The interest is paid semiannually. If the investor requires a 10 percent simple yield to maturity on this investment, what is the maximum price she should be willing to pay for the bond? (Round the answer to the nearest whole number.)

a) $619

b) $902

c) $674

d) $743

e) $828