QuestionsProblemm 7.15 Question 19 of20 17 Check My Work (3 remaining) 18. 19. | Click here to read the eBook: Bond Valuation Problem Walk-Through BOND VALUATION Bond X is noncallable and has 20 years to maturity, a 10% annual coupon, and a $1,000 par value. Your required return on Bond X is 12%; 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 bond with similar risk will be 12%. How much should you be willing to pay for Bond today? (Hint: You will need to know how much the bond will be worth at the end of 5 years.) Do not round intermediate calculations. Round your answer to the nearest cent. Cheek My Work (3 remaining) take dSffaee4-3994-45 8 7 9