A ten-year bond, with par value equals $1000, pays 10 percent annually.If similar bonds are currently yielding 6 percent annually, what is the market…

A ten-year bond, with par value equals $1000, pays 10 percent annually.If similar bonds are currently yielding 6 percent annually, what is the market value of the bond?Use semi-annual analysis.

a. $1000.00

b. $1127.50

c.$1297.85

d. $2549.85

answer is c

Question is how to calculate this answer?