Borland, Inc. issues 25-year semi-annual bonds that have a face value of $1,000 and a coupon rate of 7.5%. The current market price for the bonds is $950.00. If your required rate of return is 8.5%, what is the value of one of these bonds to you? (Your answer should be with +/- $0.02 of the following answers.)

$977.95

$978.09

$897.03

$950