Calculate the purchase price (flat) of the $1,000 face value bond using the information given below. (Round your answer to the nearest cent.)

Issue date	Maturity date	Purchase date	Coupon rate (%)	Market rate (%)
March 15, 2002	March 15, 2027	Oct 5, 2008	5.5	6.0

Assume that:

• Bond interest is paid semiannually.
• The bond was originally issued at its face value.
• Bonds will be redeemed for their face value at maturity.
• Market rates of return and yields to maturity are compounded semiannually.

Purchase price $