You are considering a 20 -year, $1,000 par value bond. Its coupon rate is 8%, and interest is paid semiannually. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below. Open spreadsheet If you require an "effective" annual interest rate (not a nominal rate) of 11.94%, how much should you be willing to pay for the bond? Do not round intermediate steps. Round your answer to the nearest cent. Bond valuation \begin{tabular}{lr} \hline Years to maturity & 20 \\ \hline Par value of bond & $1,000.00 \\ \hline Coupon rate & 8.00% \\ \hline Frequency interest paid per year & 2 \\ \hline Effective annual rate & 11.94% \\ \hline Calculation of periodic rate: Nominal annual rate Periodic rate \\ \hline Calculation of bond price: Number of periods Interest rate per period \\ \hline Coupon payment per period & \\ \hline Par value of bond & \\ \hline Price of bond \end{tabular}