On January $1,$ Ruby Inc. issued $1,500$ of $$1,000$ par value bonds with a stated rate of $6\%$ and a $8-$year maturity. Interest is payable semiannually on June $30$ and December $31.$ Use Future Value of a Single Amount, Present Value of a Single Amount, Future Value of an Annuity and Present Value of an Annuity.

Required:

What is the issue price if the bonds are sold to yield $8\%?$ Round factors to five decimal places and final answer to the nearest dollar.