Giant Electronics is issuing 20-year bonds with a face value of $1,000 that will pay coupons semiannually. The coupon rate on this bond is 7.8 percent. If the market rate for such bonds is 7 percent, what will the bonds sell for today? $1,085 $861 O $923 $1,037

Giant Electronics is issuing 20 -year bonds with a face value of $1,000 that will pay coupons semiannually. The coupon rate on this bond is 7.8 percent. If the market rate for such bonds is 7 percent, what will the bonds sell for today? $1,085 $861 $923 $1.037