Following information is available for a bond with 18 years to maturity:
Semiannual coupon rate
5.21%
Current yield
5.51%
Bond's par value
$3,000
Determine the bonds' price. (Don't round your intermediate calculations but round the final answer to 2 decimal places.)
A) $3,000.00
B) $2,836.66
C) $3,172.74
D) $25,36.75