Toy World bonds have a face value of $1,000, mature in 12 years, pay interest semiannually, and have a coupon rate of 7.2 percent. The next interest payment will be paid four months from today. What is the dirty price of this bond if the market rate of return is 7.4 percent?

Multiple Choice

• $993.14

• $996.27

• $978.14

• $972.27

• $984.27