Ouch Inc. is issuing bonds to finance the construction of a new plant in Michigan. These bonds are being offered with a face value of $1000, a coupon rate of 11% (paid annually), and a maturity of 16 years. Find the pure price of each bond if the current market interest rate for similar financial assets is 10% per year (compounded annually). Note: round your answer to two decimal places, and do not include spaces, currency signs, plus or minus signs, nor commas