Assume there is a bond with the coupon rate of 12.2%, yield to maturity (YTM) of 6.4%, and with the face value of $1,000. Further assume that the bond will mature 9 years from now, and that the interest rate will compound semiannually. What is the bonds current market value?

Group of answer choices

$1,392.19

$1,398.25

$1,395.50

$1,412.25