AIME 2004b Problem 15

A long thin strip of paper is $1024$ units in length, $1$ unit in width, and is divided into $1024$ unit squares. The paper is folded in half repeatedly. For the first fold, the right end of the paper is folded over to coincide with and lie on top of the left end. The result is a $512$ by $1$ strip of double thickness. Next, the right end of this strip is folded over to coincide with and lie on top of the left end, resulting in a $256$ by $1$ strip of quadruple thickness. This process is repeated $8$ more times. After the last fold, the strip has become a stack of $1024$ unit squares. How many of these squares lie below the square that was originally the $942$nd square counting from the left?