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Farah's Fashions has $1,000 face value, 7% coupon bonds outstanding with 12 years to maturity. The bonds make annual coupon payments and bonds of similar

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Farah's Fashions has $1,000 face value, 7% coupon bonds outstanding with 12 years to maturity. The bonds make annual coupon payments and bonds of similar risk have a yield to maturity of 7.8%. What is a Farah's Fashions bond worth today? Select one: a. $938.08 b. $959.40 c. $1,000.00 d. $1,026.12 e. None of the above

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