Five years ago, Highland, Inc. issued a corporate bond with an annual coupon of $80, paid at the rate of $40 every six months, and a maturity of 8 years. The par (face) value of the bond is $1,000. Recently, however, the company has run into some financial difficulty and has restructured its obligations. Today's coupon payment has already been paid, but the remaining coupon payments will be postponed until maturity. The postponed payments will accrue interest at an annual rate of 4.5% per year and will be paid as a lump sum amount at maturity along with the face value. The discount rate on the renegotiated bonds, now considered much riskier, has gone from 5.0% prior to the renegotiations to 12.5% per annum with the announcement of the restructuring. What is the price at which the new renegotiated bond should be selling today? Recall that the compounding interval is 6 months and the YTM, like all interest rates, is reported on an annualized basis. You are encouraged to use a spreadsheet.