J&J Manufacturing just issued a bond with a $1,000 face value and a coupon rate of 8%. If the bond has a life of 20 years, pays annual coupons, and the yield to maturity is 7.5%, what percent of the bond's total price is represented by the present value of the coupons? A) 45.7% B) 56.1% C) 77.6% D) 93.2% E) 100.0%