Grossnickle Corporation issued 15-year, noncallable, 9.1% annual coupon bonds at their par value of $1,000 one year ago. Today, the market interest rate on these bonds is 6.7%. What is the current price of the bonds, given that they now have 14 years to maturity?

a. $1,279.39

b. $1,213.72

c. $1,268.01

d. $1,231.30

e. $1,222.79