Assume that you wish to purchase a bond with a 22-year maturity, an annual coupon rate of 9.60%, a face value of $1,000, and semiannual interest payments. If the current risk free rate is 3.0% and you require a 11.5% return on this investment, what is the maximum price you should be willing to pay for the bond? Please show all work and include 2 decimal places with the answer.