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MerryMart Corporation's bonds have a 15-year maturity, a 6.25% semiannual coupon, and a par value of P1,000. The going interest rate (yield) is 5.20%, based

MerryMart Corporation's bonds have a 15-year maturity, a 6.25% semiannual coupon, and a par value of P1,000. The going interest rate (yield) is 5.20%, based on semiannual compounding.What is the bond's price? (Remember that rates are expressed in annual terms)

a. P1,129

b. P1,108

c. P1,157

d. P1,102

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