Two years ago, St. Laurent Shippers Co. issued seven year semi-annual pay bonds with a coupon rate of 8 percent. At issue, the yield to maturity was 7.5%. Today the market rate on the bonds is 9 percent. The current price of the bond is closest to:

a. a) $1,026.85 b. b) $1,020.53 c. c) $960.44 d. d) $948.89