how to solve, Bond X is noncallable, has $20$ years to maturity, a $9$ percent annual coupon, and a $$1,000$ par value. Your required return on Bond X is $10$ percent, and 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 annual bond with similar risk will be $8\mathrm{.}5$ percent. 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.$)$