What is the market value of a bond that will pay a total of fifty semiannual coupons of $80 each over the remainder of its life? Assume the bond has a $1,000 face value and a 12% yield to maturity.

734. A) $   86
735. B) $   26
736. C) $1,135.90
737. D) $1,315.24
738. E) $1,545.62