Question $1$

$2\mathrm{.}5$ pts

You are considering buying a semi$-$annual coupon bond with a stated coupon rate of $6\%($note that the stated rate is in annual terms$).$ There are $14$ years to maturity remaining on it$.$ Your required rate of return is $14\%$ per year, How much should you be willing to pay for this bond? $($Round your answer to three decimal places. For example $1\mathrm{.}23450$ or $1\mathrm{.}23463$ will be rounded to $1\mathrm{.}235$ while $1\mathrm{.}23448$ will be rounded to $1\mathrm{.}234).$