The Morrissey Company's Bonds Mature in 7 Years, Have a Par

The Morrissey Company's bonds mature in 7 years, have a par value of
$1,000, and make an annual coupon payment of $70. The market interest rate for the bonds is 8.5%. What is the bond's price?

A) $923.22
B) $946.30
C) $969.96
D) $994.21
E) $1,019.06