Bond X is noncaliable and has 20 years to maturity, an 11% annual coupon, and a $1,000 par value. Your required return on Bond X is 10% if you buy it, you plan to hold it for 5 years. You (and the market) have expectations that in 5 years, the yield to maturity on a 15 -year bond with similar risk will be 10.5%5. How much should you be willing to pay for Bond X today? (Hint You will need to know how much the bond will be worth at the end of 5 years.) Do not round intermedlate calculations. Round your answer to the nearest cent. Bond X is noncaliable and has 20 years to maturity, an 11% annual coupon, and a $1,000 par value. Your required return on Bond X is 10% if you buy it, you plan to hold it for 5 years. You (and the market) have expectations that in 5 years, the yield to maturity on a 15 -year bond with similar risk will be 10.5%5. How much should you be willing to pay for Bond X today? (Hint You will need to know how much the bond will be worth at the end of 5 years.) Do not round intermedlate calculations. Round your answer to the nearest cent