Assume that you are considering the purchase of a 30-year, noncallable bond with an annual coupon rate of 9.0%. The bond has a face value of $1,000, and it makes semiannual interest payments. If you require an 13.0% nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond?

$699.34

$1,000.00

$1,412.76