Wine and Roses, Inc., offers a bond with a coupon of 6.5 percent with semiannual payments and a yield to maturity of 7.25 percent. The bonds mature in 13 years. What is the market price of a $1,000 face value bond?

$1,541.33

$937.54

$1,060.64

$1,396.21

$1,478.87