Eastern Corporation has $1,000 par value bonds with 4 years to maturity. The bonds pay an 8% coupon rate with semi-annual coupon interest payments. The bond's closing price is quoted at 101.25. If your required rate of return is 9.5%, what would be the bond's intrinsic value?

Group of answer choices

$701

$951

$1,310

$1,212

$973