A 3% convertible corporate bond with a face value of $1,000 and 20 years remaining to maturity trades to yield 0.5%. Its conversion ratio is 40. The market value of the bond is equal to 104% of the conversion value. The issuer just announced the bond would be called at 110 and simultaneously the value of the underlying stock increased by 3%. Find the new market value of the bond following the announcement. Express your answer in dollars and cents.