Examine the following typical corporate bond listing: A 5-column table with 1 row. Column 1 is labeled Bonds with entry N Y Tel 7 and one-fourth 33. Column 2 is labeled current yield with entry 6.9. Column 3 is labeled Volume with entry 18. Column 4 is labeled Close with entry 101 and three-fourths. Column 5 is labeled Net change with entry negative StartFraction 1 Over 8 EndFraction.

In the name column, NYTel is the abbreviated name of the company (New York Telephone) issuing the bond. What was the previous closing price of the bond? What was the dollar amount?
a.
7StartFraction 1 Over 8 EndFraction% lower; $945
b.
7StartFraction 1 Over 8 EndFraction% higher; $1090
c.
StartFraction 1 Over 8 EndFraction% lower; $1016.25
d.
StartFraction 1 Over 8 EndFraction% higher; $1018.75