An investor purchased a 15-year bond for 1,685.40. The par value of the bond is X. The bond has an annual nominal coupon rate of 11% payable semiannually. The bond can be called at par value Xon any coupon date, starting at the end of year 10, after the coupon is paid. The lowest yield rate that the investor can possibly receive is a nominal annual interest rate of 8% convertible semiannually. Calculate X