On January 1, 2023, Skysong Corporation purchased a $1,460,000 bond issued by ALN Ltd. The bond was due to mature on December 31, 2025, and paid interest at 6% every June 30 and December 31. The market interest rate was 8%. Skysong had both the intention and ability to hold the bond until its maturity date. On January 1, 2025, Skysong became aware that ALN was experiencing severe financial difficulties. After discussing the situation with ALN and some of the other creditors, Skysong believed that ALN would now be able to repay only $1,314,000 of the original $1,460,000 bond.

1. Calculate the purchase price of the bond using a financial calculator or Excel functions. (Round factor values to 5 decimal places, eg. 1.25124 and final answer to 2 decimal places, e.g. 5,275.36.)

2. Calculate the revised present value of the bond at January 1, 2025 using a financial calculator or Excel functions. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 2 decimal places, eg. 5,275.36)

Revised present value - ?