Consider a 5.2 percent coupon bond with eight years to maturity and a current price of $1, 053.10. Suppose the yield on the bond suddenly increases by 2 percent. Use duration to estimate the new price of the bond. (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.) Calculate the new bond price. (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)