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Jack is planning to buy a 8-year bond with semi-annual coupons and a coupon rate of 7.9 percent p.a. The face value is $1,000. Given

Jack is planning to buy a 8-year bond with semi-annual coupons and a coupon rate of 7.9 percent p.a. The face value is $1,000. Given an annual yield of 11.7 percent, what is the bonds current price? (to the nearest cent) Select one:

a. $412.64

b. $805.99

c. $1219.20

d. $809.23

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