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 $6\mathrm{.}75\%.$ You are trying to value a Klingsman bond that has $11\mathrm{.}00$ years until maturity and pays a $8\mathrm{.}75\%$ 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 yield to maturity on AA$+$ bonds at the moment is $0\mathrm{.}10\%$ lower than the previous yield to maturity on Klingsman debt. What will the new price be$?$

Answer format: Currency: Round to: $2$ decimal places.