Ann Nichols is considering a bond investment in the Southwest Technology Company. The $1,000 bonds have a quoted annual interest rate of 4 percent, and the interest is paid semiannually. The yield to maturity on the bonds is 6 percent annually. There are 8 years to maturity. Compute the price of the bonds. Use Appendix B and Appendix D. (Round "PV Factor" to 3 decimal places. Do not round other intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) Price of the bonds $ 981.80