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On January 1, 2021, Tesla Corporation issued $902,000, 7%, 5-year bonds dated January 1, 2021, to yield 8%. The bonds pay semi-annual interest on January

On January 1, 2021, Tesla Corporation issued $902,000, 7%, 5-year bonds dated January 1, 2021, to yield 8%. The bonds pay semi-annual interest on January 1 and July 1. The company has a December 31 year end. Calculate the selling price of the bond. (Round answer to the nearest thousand dollar, e.g. $1,000.)

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