Bond X is non-callable, has 20yrs to maturity, a 9% annual coupon rate, and a $1,000 par value. Your required return on Bond X is 10%, and if you buy it you plan to hold it for 5 years. It is expected that in 5 years the YTM on a 15 year bond of the same risk will be 8.5%. How much should you be willing to pay for Bond X today?