jay aquire is considering the purchase of the following: a builtrite 1000 par, 6 5/8% coupon rate, 25 year maturity bond which is currently selling at 1020. if jay purchased this bond for the quoted price and holds the bond for 5 years when current market interest rates sre 8% what should he expect to sell the bond for?

a. $840

b. 890

c. $816

d. $865