Weismann Company issued 11-year bonds a year ago at a coupon rate of 9 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 8 percent, what is the current bond price?

a)$695.77

b)$1,067.95

c)$1,048.80

d)$1,547.61