I want to get a detail process for the answer of this question below:(including the timeline and the formular)

Bond price: Regatta Ltd has six-year bonds outstanding that pay an 8.25 percent coupon rate. Investors buying the bond today can expect to earn a yield to maturity of 6.875 percent. What should the company's bonds be priced at today? Assume annual coupon payments. (Round to the nearest dollar.)

a.$972

*b.$1,066

c.$1,014

d.$923