Wachowicz Corporation issued $7-$year, noncallable, $7\mathrm{.}5\%$ annual coupon bonds at their

par value of $$1,000$ one year ago. Today, the market interest rate on these bonds is

$7\mathrm{.}5\%.$ What is the current price of the bonds, given that they now have $6$ years to

maturity?

a$.1,000\mathrm{.}00$

b$.926\mathrm{.}80$

C$.975\mathrm{.}41$

d$.1,025\mathrm{.}80$