Waddle Enterprise Issued an 8-Year,10% Bond on January 1,20X9

Multiple Choice

Waddle Enterprise issued an 8-year,10% bond on January 1,20X9.Each bond sold for face value,which is $1,000.The bonds pay interest semi-annually on June 30 and December 31.The bonds mature on December 31,2X15.Using present value tables,what is the market price of each $1,000 bond on January 1,2X11,if the market rate of interest has changed to 8%?

A) $ 893.29
B) $ 912.92
C) $1,000.00
D) $1,081.15
E) $1,114.96