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HAB Corporation's bonds have a 1 5 - year maturity, a 7 . 2 5 % semiannual coupon, and a par value of $ 1

HAB Corporation's bonds have a 15-year maturity, a 7.25% semiannual coupon, and a par value of $1,000. The going interest rate (rd) is 6.20%, based on semiannual compounding. What is the bond's price?
a. $1,047.19
b. $1,101.58
c. $1,157.35
d. $1,074.05
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