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$ comma $000$

$7\mathrm{.}5\%$

$7$ years

$8\mathrm{.}25\%$

semi dash annually

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Part $1$

The purchase price of the bond is $$$

$$

enter your response here.

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