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Company Z issued 25-year, noncallable, 9.7% annual coupon bonds at their par value of $1,000 five years ago . Today, the market interest rate on

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Company Z issued 25-year, noncallable, 9.7% annual coupon bonds at their par value of $1,000 five years ago . Today, the market interest rate on these bonds is 5.75%. What is the current price of the bonds? a. $1087.80 b. $1202.94 c. $1173.54 d. $1462.40 e. $839.55

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