You are employed by an investment bank to estimate the value of a coupon-paying bond with the following features. It has a face value of $100,000, pays quarterly coupons at a rate of 10% p.a. and the market required yield to maturity is 8% p.a. compounding quarterly. There is one full quarter until the next payment will be received and the bond matures in 3 years. Which of the following is closest to the market value of the bond?

Group of answer choices

$106,789

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$93,473

$94,871

$105,288