Most corporate bonds in the United States make semiannual coupon payments, but some corporate bonds have annual coupon payments. Suppose a company issues a bond with a par value of $1,000, 15 years to maturity, and a coupon rate of 4 percent paid annually. If the yield to maturity is 8.5 percent, what is the current price of the bond? Enter your answer as dollars with 2 digits to the right of the decimal point in the box shown below. Your Answer: 626.31