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Last year, BT Motors issued 10-year bonds with a 9% coupon and semi-annual interest payments. What is the market price of a $1,000 bond if

Last year, BT Motors issued 10-year bonds with a 9% coupon and semi-annual interest payments. What is the market price of a $1,000 bond if the yield to maturity is 8.9%?

A. $1,003.97 B. $1,006.53 C. $1,042.89 D. $1,414.14 E. $1,585.36

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