New Business Ventures Inc. has an outstanding perpetual bond with a $13$ percent coupon rate that can be called in one year. The bond

makes annual coupon payments. The call premium is set at $$200$ over par value. There is a $35$ percent chance that the interest rate in

one year will be $15$ percent, and a $65$ percent chance that the interest rate will be $12$ percent. If the current interest rate is $13$ percent,

what is the current one$-$year market price of the bond? $($Do not round intermediate calculations. Round the final answer to $2$ decimal

places. Omit $ sign in your response.$)$

Price