Jenny is considering buying a 20-year corporate bond. The bond has a face value of P1M and pays 6% Interest per year in two semi-annual payments. Thus, the purchaser of the bond would receive P30,000 every six months and in addition she would receive P1M at the end of 20 years, along with the last P30.000 interest payment. If Jenny thought she could receive 8% interest, compounded semi-annually, how much would she be willing to pay for the bond?