Assume that you are considering the purchase of a 20-year, noncallable bond with an annual coupon rate of 10.2%. The bond has a face value of $1,000, and it makes semiannual interest payments. If you require a 12.9% nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond?

a. $792.33

b. $448.76

c. $850.66

d. $807.87

e. $854.69