The Gab corporation bonds are currently selling in the market. These bonds have 7 years left to maturity and have a coupon rate of 6.53% paid annually. If the interest rate in the market is currently 4.5%, calculate the current market price of this bond."
a) $959.60
b) $887.39
c) $1,119.62
d) $1,087.39
e) $1,147.21