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Grossnickle Corporation issued 20 -year, noncallable, 6.2% annual coupon bonds at their par value of $1,000 one year ago, Today, the market interest rate on

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Grossnickle Corporation issued 20 -year, noncallable, 6.2% annual coupon bonds at their par value of $1,000 one year ago, Today, the market interest rate on these bonds is 4.7%. What is the current price of the bonds, given that they now have 19 years to maturity? a. 51,229.04 b. 51.22189 c. 31,185.79 d. $1,191.78 e. 51.197.50

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