Klingsman National Brand has bonds that are rated AA by Standard and Poor's. The yield to maturity on AA bonds at the moment is 6.87%. You are trying to value a Klingsman bond that has 10.00 years until maturity and pays a 7.75% coupon. The bond has a $1,000 face value. Suppose that the credit rating of Klingsman is reviewed and upgraded to AA+ by Standard and Poor's. The yleld to maturity on AA+ bonds at the moment is 0.10% lower than the previous yield to maturity on Klingsman debt. What will the new price be? Answer format: Currency: Round to: 2 decimal places