James is interested in purchasing a typical European corporate bond with a face value of $$1500,$ a coupon rate of $7$ percent with interest paid annually, and a $4-$year term to maturity. If the current market rate for similar bonds is $9$ percent, how much should he be willing to pay for this bond?

$$1500\mathrm{.}00$

$$1519\mathrm{.}91$

$$1402\mathrm{.}81$

$$1395\mathrm{.}00$