Question: Check My Work ( 3 remaining) You are considering a 25-year, $1,000 par value bond. Its coupon rate is 9%, and interest is paid semiannually.

Check My Work ( 3 remaining) You are considering a 25-year, $1,000 par value bond. Its coupon rate is 9%, and interest is paid semiannually. If you require an "elfective" annual interest rate (not a nominal rate) of 9.8005%, how much should you be willing to pay for the bond? Do not round intermediate calculations. Round your answer to the nearest cent

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