What is the current price of a bond, to the nearest dollar, that matures on 31 December 2030. The face value is $10,000, the interest rate is 4%, the required rate of return is 5%, coupon is paid annually. Current date is 01 January 2022.

a.

$9,227

b.

$9,999

c.

$9,534

d.

$9,289