Investor J wants steady future cash inflows, therefore, he invested in fixed-charge securities such as bonds. He purchased the bond of par value of $990 having a coupon rate of 9% paying $89.10 as coupon amount annually on the bonds. The maturity of a bond is 7 years. The yield rate on a similar bond is 8%. Determine the bond price as per the present value method of bond valuation. A - The Bond Price is $1,542.99. B - The Bond Price is $876.23. B - . C - The Bond Price is $1,041.54. D - The Bond Price is $1,453.89