You are interested in buying a bond. The bond pays a $6\%$ annual pay coupon, has a $$1,000$ face value and matures is $25$ years. If you require an $8\%$ return, how much will you pay for the bond?

$$786\mathrm{.}50$

$$1,000$

$$1,312\mathrm{.}44$

$$892\mathrm{.}12$