Moerdyk Corporation's bonds have a 15-year maturity, a 7.25% semiannual coupon, and a par value of $1,000. The going interest rate (r_d) is 5.40%, based on semiannual compounding. What is the bonds price?

$1,188.54

$1,390.59

$962.72

$1,105.34

$1,307.40