The Axion Company has outstanding bonds with a coupon rate of 7.5% and semi-annual payments. The bonds are redeemable at their face value of $1000 on December 30, 2035. If Daniel can earn 6.25% on comparable investments and settle the transaction on March 15, 2022, how much should he be willing to pay for the bond?

a. $111.43

b. $1,110.14

c. $1,114.29

d. $1,113.10

e. None of these are correct.