On January $1,2022,$ Mobile Technology, Incorporated issued $$850,000$ of $$1,000$ par value, $6\%,6-$year bonds. Interest is payable semiannually each January $1$ and July $1$ with the first interest payment due at the end of the period on July $1,2022.$ The market rate of interest for similar nonconvertible bonds on the date of the bond issue was $10\%.$ However, because these bonds are convertible, the effective rate is $8\%.$ Each bond is convertible into $20$ shares of Mobile Technology's $$2$ par value common stock. What is the issue price of the debt?