Question: need some help solving this step by step without excel thank you! A bond is trading on the secondary market and will mature in 10

need some help solving this step by step without excel thank you!

A bond is trading on the secondary market and will mature in 10 years. The bond has a face value of $1,000 that will be paid at maturity. Further, the bond pays an annual coupon at 9% of face value. What should the trading price be for the bond if investors seek a 12% on their investment? Select one: A. $1,192.53 B. $827.95 C. $508.52 D. $830.49

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