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An n = 13 year bond is issued with annual coupons and a face (par) value of F = $700. The coupon rate is an

An n = 13 year bond is issued with annual coupons and a face (par) value of F = $700. The coupon rate is an annual effective rate of r = 6.8%. The yield rate is an annual effective rate of i = 7.6%. Determine the price of the bond. (Assume the bond is redeemed at face value at maturity i.e. assume F=C). Enter your answer to the nearest cent.

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