Fourteen years ago, Cass Industries issued 30-year 6% annual coupon bonds with a $1000 face value and with semiannual coupon payments. Since then, interest rates in general have declined and the yield...

Extracted text: Fourteen years ago, Cass Industries issued 30-year 6% annual coupon bonds with a $1000 face value and with semiannual coupon payments. Since then, interest rates in general have declined and the yield to maturity on the Cass bonds is now 5%. Given this information, what would be the price today for a Cass Industries bond? O A. $1109.25 O B. $943.56 O C. $1108.38 O D. S823.33