Question $14$ of $17$

Grossnickle Corporation issued $15-$year, noncallable, $9\mathrm{.}7\%$ annual coupon bonds at their par value of $$1,000$ one year ago. Today, the market interest rate on these bonds is $7\mathrm{.}7\%.$ What is the current price of the bonds, given that they now have $14$ years to maturity?

a$.$ $$1,167\mathrm{.}80$

b$.$ $$1,174,37$

c$.$ $$1,239\mathrm{.}49$

d$.$ $$1,230\mathrm{.}46$

e$.$ $$1,180,47$