New Business Ventures, Inc., has an outstanding perpetual bond with a coupon rateof9 percent that can be called in one year. The bond makes annual coupon payments. The call premium is set at $180over par value. There is a 60 percent chance that the interest rate in one year will be 11 percent, and a 40percent chance that the interest rate will be 7 percent. If the current interest rate is 9 percent, what is the current market price of the bond?(Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))