Suppose you require an annual interest rate of 6% from all your bond investments. You plan to purchase the following bond and hold on to it till maturity.

Coupon Rate: 5.6%

Maturity Date: 10/15/2040

Par value: $1,000

What should be the maximum price you pay for it now (i.e., 10/15/2020) so that you earn no less than the required 6% per year?