You are contemplating the purchase of a 20-year $1,000 face value bond that pays $50 in interest each six months. You plan to hold this bond for only 10 years, at which time you will sell it in the marketplace. You require a 12 percent annual return, but you believe the market will require only an 8 percent return when you sell the bond 10 years hence. Assuming you are a rational investor, how much should you be willing to pay for the bond today? $1,081.43 $737.50 $856.91 $927.68 $1,126.85