Calculate the value of a $1,000 bond which has 10 years until maturity and pays quarterly interest at an annual coupon rate of 12 percent. The required return on similar-risk bonds is 20 percent.

Select one:

a. $2,201.08

b. $845.66

c. $656.82

d. $835.45

Please solve using bond calculator. Show which values are for bond price, face value, annual coupon payment, annual yield %, and yield to maturity.

Thank you!