ABC Corporation issued 20-year, noncallable, 7.4% annual coupon bonds at their par value of $1,000 one year ago. Today, the market interest rate on these bonds is 6.5%. What is the current price of the bonds, given that they now have 19 years to maturity?
A. $1,041.34
B. $990.04
C. $717.79
D. $1,096.61
E. $1,220.55