Crossdyme Corporation issued 30-year, noncallable, 8.5% annual coupon bonds at their par value of $1,000 one year ago. Today, the market interest rate on these bonds is 10%. What is the current price of the bonds, given that they now have 29 years to maturity?
$1,161.20
$1,159.90
$858.60
$859.46
$1,000.00