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Company X issued 25-year, noncallable, 5.8% annual coupon bonds at their par value of $1,000 five years ago . Today, the market interest rate on

Company X issued 25-year, noncallable, 5.8% 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?

a. $1005.85 b. $1087.80 c. $1173.54 d. $1202.94 e. $824.15

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