Gertie Restaurants decides to purchase Smith Brothers and needs to finance the acquisition by issuing $100,000,000 of 5.65 percent coupon bonds with semiannual payments and a yield to maturity of 6.91 percent. The bonds will mature in 5 years. What is the market price per bond if the face value is $1,000?

1,055.51

946.28

964.68

1,000.00

948.21

947.49

947.89