$3$M Corporation has an outstanding an issue of $$1,000$ face

value, $8\mathrm{.}5\%$ coupon bonds that mature in $10$ years. Today

investors require a $14\%$ rate of return. What is the price of

these bonds today? Enter your amount with $2$ decimal

places, as a positive number $($even though ittis being paid

out$)$ do not include the $ sign.