Question $10$

$2$ pts

G$.$ Foran, Inc. sold an issue of $30-$year, $$1,000$ par value bonds to the public. The bonds carry a $10\mathrm{.}85\%$ coupon rate and pay interest semiannually. It is now $12$ years later. The current market rate of interest on the G Foran bonds is $8\mathrm{.}45\%.$ What is the current market price $($intrinsic value$)$ of the bonds? Round off to the nearest $$1.$

$$751$

$$1,177$

$$1\mathrm{.}220$

$$976$