A certain bond pays a 10.0% coupon, paid semi-annually, has a par value of $1000, and matures in 26 years. The current market rate on bonds of this...

A certain bond pays a 10.0% coupon, paid semi-annually, has a par value of $1000, and matures in 26 years. The current market rate on bonds of this risk class is 12.1%. Which is nearest to the market value of the bond?

Select one:

$1574.97

$47.64

$47.15

$835.35 

$834.63