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Company B issued 25-year, noncallable, 8.5% annual coupon bonds at their par value of $1,000 five years ago. Today, the market interest rate on these

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Company B issued 25-year, noncallable, 8.5% annual coupon bonds at their par value of $1,000 five years ago. Today, the market interest rate on these bonds is 5.75%. What is the current price of the bonds? O a. $1202.94 O b. $824.15 O c. $1181.45 O d. $1005.85 O e. $1321.93

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