Consider a bond which pays $7\mathrm{.}25\%$ semiannually and has $8$ years to maturity. The market requires an interest rate of $8\%$ on bonds of this risk. What is this bond's price? The face value of bond is $$1,000.$

$$942\mathrm{.}50$

$$911\mathrm{.}52$

$$941\mathrm{.}74$

$$956\mathrm{.}30$

$$996\mathrm{.}30$