In 1752, Britain consolidated all government debt into a single issue called 'Consol' bonds. Consol bonds were perpetual and initially paid an annual coupon of 3.5%. Since issue, the coupon rate has been changed from time-to-time: assume that it is currently $42 per year (in equivalent US$) with the next coupon due in one year. What is the fair price for a Consol bond (present value of the stream of coupon payments) if the appropriate interest rate is 10%? What is the fair price of the Consol bond in equivalent US$? $ (Round to the nearest cent.)