You'd like to buy a 20-year, noncallable bond with an annual coupon rate of 8.4% paid semi-annually. The bond has a par value of $1,000. If you require an 9.20% nominal yield to maturity on this investment, what should you be willing to pay for the bond?

a. $565.07 b. $1014.57 c. $897.57 d. $1065.02 e. $927.43