You have a dreadnought-sized K-20, which is all koa. Nothing in a Taylor serial number refers to the model or quality - they only give you the date, and what position it was on the assembly line that day. The modern serials also give you the factory location, but they didn't start until 2010. Your serial means it was the 122nd guitar that day.
Depending on the figuring and grain of the koa, the cosmetic condition, and whether it has a cutaway/electronics, I've seen them sell from $1500 up to $2500, although closer to the lower end of that range is more likely in this market. Sounds like a nice guitar!
Also, as far as I know Taylor didn't have "presentation" grade koa back then (the Presentations didn't start until, what, 1996?), but yours may certainly *look* as nice as current Presentation grade. Post some pics when you have a chance!
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Jesse @ Boutique Guitar Shop
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