XYZ company issued a new bond on January 1, 2020. This bond has an annual coupon rate of 8 percent, a par value of 1,000 dollar and it matures in 8 years. Coupon payments are made semi-annually (i.e., on June 30 th

and December 31 st of each year). What was the market value of this bond on July 1, 2021 when the yield-to-maturity (YTM) on it was 10 percent:

$ 573.80

$ 906.06

$ 891.62

$ 1,000.00

$ 1,132.43