Zimmer Holdings Inc issues a 11 percent coupon bond with 16 years maturity, $1,000 face (par) value, and semi-annual payments. If the yield to maturity of this bond is 12 percent, find the bond's price.

a. $961.38

b. $929.58

c. $1,057.52

d. none of the answers is correct

e. $1,014.75