Five Years Ago, Jackson Corporation Issued Twenty-fiVe-Year 10% Annual Coupon

Five years ago, Jackson Corporation issued twenty-five-year 10% annual coupon bonds with a $1,000 face value each. Since then, interest rates in general have risen, and the yield to maturity on
The Thompson Tarps bonds is now 12%. Given this information, what is the price of the bonds today?

A) $1,230
B) $851
C) $1,218
D) $880
E) $1,440