Assume that you are considering the purchase of a 20-year, noncallable bond with an annual coupon rate of 9. The bond has a face value of $1,000, and...

Assume that you are considering the purchase of a 20-year, noncallable bond with an annual coupon rate of 9.5%. The bond has a face value of $1,000, and it makes semiannual interest payments. If you require an 11.9% nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond?