You would like to buy a quarterly compounding $14-$year, $$1,000$ par value bond. The annual coupon rate on this bond is $9$ percent. If the current yield to maturity of the bond is a $11$ percent, what is the value of this bond? After one year, would it be higher or lower than the current value of the bond?

$$858$; Lower

$$858$; Higher

$$860$; Lower

$$860$; Higher