McCurdy Co.'s Class Q bonds have a 12-year maturity, $1,000 par value, and a 10.5% coupon paid semiannually (5.25% each 6 months), and those bonds sell at their par value. McCurdy's Class P bonds have the same risk, maturity, and par value, but the p bonds pay a 10.5% annual coupon. Neither bond is callable. At what price should the annual payment bond sell? Select the correct answer. a. $981.63 b. $968.49 c. $988.20 d. $975.06 e. $961.92