Langford Co$.$ issued $14-$year bonds a year ago at a coupon rate of $7\mathrm{.}2\%.$ The bonds make semiannual payments. If the YTM on these

bonds is $5\mathrm{.}5\%,$ what is the current bond price? $($Do not round intermediate calculations. Round the final answer to $2$ decimal places.

Omit $ sign in your response.$)$

$*$Please explain with details, No using Excel. I want to understand. Thank you.