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Grossnickle Corporation issued 20 -year, noncallable, 7.5% 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, 7.5% annual coupon bonds at their par value of $1,000 one year ago. Today, the market interest rate on these bonds is 5.1%. What is the current price of the bonds, given that they now have 19 years to maturity? a. $1,287,70 b. $1,296.57 c. $1,343.84 d. $1,333.55 e. $1,305,02

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