Podalic, Inc., has 9% percent coupon bonds on the market with 12 years left to maturity. The bonds make semi-annual payments and have a par value of $1,000. If the bonds have a yield to maturity of 6.9 percent, what is the price?

Select one:

a.$1796.31

b.$1162.50

c.$1169.50

d.$1895.94