FIN3100s bonds have a 15-year maturity, a 12% quarterly coupon ($30 coupon payments are made every three months), a face value of $1,000, and cannot be called. The going nominal annual interest rate (rd) for similar quarterly payment bonds of equivalent risk is 8%. What is the bond's price?

Group of answer choices

$1,347.61

$1,327.53

$1,725.66

$1,368.47

$1,927.51