A large corporation would like to borrow a large amount of money for its new expansion project. Instead of asking for a bank loan, it decided to borrow in the open market by selling a large number of corporate bonds. The price received from selling each bond becomes a "mini loan" that will then need to be repaid over a number of years. GIVEN: The corporation issued 7 percent coupon bonds 2 years ago, at which time they had 11 years to maturity. The face value of each is $1,000. They are making annual payments to their holders. The yield to maturity on these bonds is 10 percent. Given these bond characteristics, how much should each of these bonds be selling for in today's market? (Increase decimal places for any intermediate calculations, from the default 2 to 6 or higher. Only round your final answer to TWO decimal places: for example, 1,000.23. Do NOT use "$" in your answer.)