Assume that the bond in 2.1a still has 5 years until it matures. What is it worth in one year if rates go down to 10%?

A large grocery chain is reevaluating its bonds since it is planning to issue a new bond in the current market. The firm's outstanding bond issue has 8 years and 5 months remaining until maturity. The bonds are floating rate bonds with a par value of $1,000. One month ago, the bonds repriced at an 8% rate. Because of increased risk, the required rate has risen to 9 percent. What is the current value of these securities?