4. WSGD Holdings specializes in buying heavily undervalued bonds. To do that this firm mainly searches bonds, which are being trading at well below par value and have a relatively long period to maturity. He has his eye on a bond issued by Western Group. The $1.000 par value bond provides a 7 percent annual coupon rate and has 14 years remaining to maturity. The current yield to maturity on similar bonds is 9 percent. What is the current price of the bonds? (6 points)