New Business Ventures, Inc., has an outstanding perpetual bond with a coupon rate of 10 percent that can be called in one year. The bond makes annual coupon payments The call premium is set at $160 over par value. There is a 60 percent chance that the interest rate in one year will be 12 percent, and a 40 percent chance that the interest rate will be 7 percent. If the current interest rate is 10 percent, what is the current market price of the bond? Assume a par value of $1,000