Janice software has 7% coupon bonds on the market with 20 years to maturity. The bonds make semiannual payments and are currently priced at par value. If the interest rate suddenly fall by 2%, what would be the price of the bond?
A. $1725.04 B. $1251.03 C. $1327.35 D. $1102.10 E. $ 1927.05