Determine the purchase price at the indicated time before maturity of the following bond redeemed at par shown in the table below.

Par Value	Bond Rate Payable Semi-Annually	Time Before Maturity	Yield Rate	Conversion Period
$2,000	7%	11 years	7.5%	semi-annually

The purchase price of the bond is $__.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)