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Brian Lee just received a cash gift from his grandfather. He plans to invest in a five-year bond issued by Carla Vista Corp. that pays

image text in transcribed Brian Lee just received a cash gift from his grandfather. He plans to invest in a five-year bond issued by Carla Vista Corp. that pays an annual coupon rate of 6.0 percent. If the current market rate is 7.00 percent, what is the maximum amount Brian should be willing to pay for this bond? Assume face value is $1,000. (Round answer to 2 decimal places, eg. 15.25.) Brian should pay

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