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Morgan Stanley's bonds mature in 2020 (8 years), have a par value of $1,000, and make an annual coupon interest payment of $65. The market

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Morgan Stanley's bonds mature in 2020 (8 years), have a par value of $1,000, and make an annual coupon interest payment of $65. The market requires an interest rate of 8.2% on these bonds. Based on these factors, what is the bond's value? a $875.14 b. $903.04 OC. $948.76 d. $972.48 e, 5996.79

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