McCurdy Co$.\text{'}$s Class Q bonds have a $12-$year maturity, $$1,000$ par value, and a $8\mathrm{.}5\%$ coupon paid semiannually $(4\mathrm{.}25\%$ each $6$ months$),$ and those bonds sell at their par value. McCurdy's Class P bonds have the same risk, maturity, and par value, but the p bonds pay a $8\mathrm{.}5\%$ annual coupon. Neither bond is callable. At what price should the annual payment bond sell?