Dexter Mills has outstanding bonds with a face value of $1000 expiring in 19 years at a coupon rate of 10.2 percent. The bonds make semiannual payments. The yield-to-maturity (required rate of return) on these bonds is 9.2 percent. What is the current bond price?
Select one:
a. $985.55
b. $1,089.02
c. $1,042.16
d. $991.90
e. $1,098.00