Asbury Corp. issued 30-year bonds 11 years ago with a coupon rate of 9.5%. Those bonds are now selling to yield 7%. The firm also issued some 20-year bonds 2 years ago with an 7.6% coupon rate. The two bond issues are rated equally by Standard and Poors and Moody's. Asbury's marginal tax rate is 36%. Assume face value of the bonds is $1,000. Assume that the coupon payments are semi-annual.

What is the current selling price of the 20-year bonds? Round the answer to the nearest cent.