Assume that you are considering the purchase of a 30 year bond with an annual coupon rate of 8.75%.The bond has a face value of $1,000 and makes semiannual interest payments.If you require a 6.75% nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for this bond?Note:Enter your answer rounded off to two decimal points.Do not enter $ or comma in the answer box.For example, if your answer is $1,234.567 then enter as 1234.57 in the answer box.