Module 3 Homework Assignment Score: Save Submit Assignment for Grad Problem 7,15 (Bond Valuation) Question 19 of 20 Check My Work (3 remaining) eBook Problem Walk-Through Bond X is noncallable and has 20 years to maturity, an 8% annual coupon, and a $1,000 par value. Your required return on Bond X is 7%; if you buy it, you plan to hold it 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 6.5%. How much should you be willing to pay for Bond X today? (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. Check My Work is remainin) Olon Key Problem 7.15 Chond Valuation) - Ouestion 19 of 20 Submit Almere for Grading Save