McCurdy Co.'s Class Q bonds have a 12-year maturity, $1,000 par value, and a 8% coupon paid semiannually (4% each 6 months), and those bonds sell at their par value. McCurdy's Class P bonds have the same risk, maturity, and par value, but the p bonds pay a 8% annual coupon. Neither bond is callable. At what price should the annual payment bond sell? Select the correct answer. a. $993.57 b. $971.45 c. $988.04 d. $982.51 e. $976.98