Irrawaddy Cruises Ltd has suffered some financial difficulties recently and is unable to meet its next several coupon payments for the corporate bonds it has on issue. The bonds in question will mature in 11 years and have a 6.0% coupon rate. Coupons are paid annually. The face value is $1,000. By arrangement with its creditors, Irrawaddy Cruises will skip the next four coupons. The skipped coupons will be repaid at maturity without interest. Not surprisingly, investors view these bonds as risky and require an 12% return per annum. What price would we expect to see the bonds trading at?