Tom purchases a 20-year bond with 6% annual coupons and a face value of $100. (5+x) years later, immediately after the (5+x) th coupon paid, Tom sells the bond with a yield rate (for the new purchaser) of 4% compounded annually. Suppose the yield rate during Toms (5 + x) years holding period is 8%. Find the initial price of the bond (at Toms purchase).