If a two-year grace period is granted on a 10-year maturity, 15 percent annual coupon loan, previously

selling at par, what is the impact on the loan's price?

A. The price falls to $75.61 per $100 face value

B. The price increases to $130 per $100 face value

C. The price falls to $82.64 per $100 face value

D. The price falls to $79.72 per $100 face value

E. The price stays at par

The answer is A, but could you please explain