Assume that you are considering the purchase of a 25-year, noncallable bond with an annual coupon rate of 9.0%. The bond has a face value of $1,000, and it makes semiannual interest payments. If you require an 8.1% nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond?

a. $1,108.85

b. $1,069.93

c. $1,134.67

d. $1,095.85

e. $618.97