A 10-year bond of a firm in severe financial distress has a coupon rate of 14% and sold recently for $900. The latest news is that the firm is currently renegotiating the debt, and it appears that the lenders will allow the firm to reduce coupon payments on the bond to one-half the originally contracted amount. The firm can handle these lower payments. The bond makes its coupon payments annually. If the riskiness of the business stays the same (i.e. the discount rate has not changed), what is the new price of this bond after the debt renegotiation is complete? Provide 2 decimals. Do not include symbols like $.