problem: Leggio Corporation issued twenty year, 7 percent yearly coupon bonds at their par value of $1,000 one year ago. Today, the market interest rate on these bonds has dropped to 6 percent. Determine the new price of the bonds, given that they now have 19 years to maturity?
[A] $1,133.40
[B] $1,177.78
[C] $1,189.04
[D] $1,046.59
[E] $1,111.58