$($Bond valuation$)$ Hamilton, Inc. bonds have a coupon rate of $15$ percent. The interest is paid semiannually, and the bonds mature in $5$ years. Their par value is $$1,000.$ If your required rate of return is

$8$ percent, what is the value of the bond? What is the value if the interest is paid annually?

a$.$ If the interest is paid semiannually, the value of the bond is $dots. $($Round to the nearest cent.$)$