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Madison Inc. just issued bonds with a par value of $1,000, an annual coupon rate of 3.8%, coupons paid semiannually , and a maturity of

Madison Inc. just issued bonds with a par value of $1,000, an annual coupon rate of 3.8%, coupons paid semiannually, and a maturity of 11 years? The bonds have a yield to maturity of 7.2%.

What is the price of these bonds?

Enter your answer as a number with 2 decimal places of precision. Do not enter dollar signs or commas. Do not enter your answer as a negative number.

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