6. Problem 7.15 Click here to read the eBook: Bond Valuation Problem Walk-Through BOND VALUATION Bond X is noncallable and has 20 years to maturity, a 11% annual coupon, and a $1,000 par value. Your required return on Bond X is 9%; if you buy it, you plan to hold for 5 years. You (and the market) have expectations that in 5 years, the yield to maturity on a 15-year bond with similar risk will be 10%. How much should you be wiling to pay for Bond Xtoday? (Hint: You will need to know how much the bond will be worth at the end of 5 years.) Do not round Intermediate calculations. Round your answer to the nearest cent. Grade it New Save & Continue Continue without saving