Your financial advisor is offering you an opportunity to invest in Corporate Bonds. Since you are very interested in diversifying your portfolio with some fixed income investment, you are considering this offer. The bond that matures in 18 years, yields 9.92% and has a coupon rate of 12% paid semiannually. If the par value equals $1,000, what is the most you should be willing to pay for each bond? Round your answer to the nearest penny