A company has issued its $3,000 corporate bond that is ranked BB in the market. The coupon rate for this bond is 9.0% and the coupons are paid semi-annually. The bond will mature in 10 years and, currently, similar types of bonds are yielding 6.7% in the market. You are required to calculate the value of this bond. (Round your final answer in dollar to 2 decimal points. If your answer is $12.256, write only 12.26)