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Nick Turner is considering the purchase of a bond that was issued 4 years ago and has 10 years left till maturity. The bond has

Nick Turner is considering the purchase of a bond that was issued 4 years ago and has 10 years left till maturity. The bond has a coupon rate of 7.75 percent and a face value of $1,000. If the yield to maturity is 8.00%, calculate to the nearest penny the value of the bond today. $

*PLACE YOUR ANSWER IN DOLLARS AND CENTS. DO NOT USE A DOLLAR SIGN OR A COMMA IN YOUR ANSWER. WORK YOUR ANALYSIS USING AT LEAST 4 DECIMAL POINTS OF ACCURACY.

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