Q13. Your client is considering the purchase of a bond. You have been asked to calculate the price of the outstanding bond. The bond pays a 6% coupon rate and has 12 years left until maturity. Coupons are paid semi-annually. What would you advise your client as the most they would be willing to pay if they require a 7% return on their investment? (Round your answer to the nearest cent. No dollar sign needed.)