Problem $12\mathrm{.}1$

Required:

Your firm has just issued five$-$year floating$-$rate notes denominated in U$.$S$.$ dollars and indexed to six$-$month CME Term SOFR plus

$0\mathrm{.}70$ percent. What is the amount of the first coupon payment your firm will pay per U$.$S$.$ $$1,000$ of face value, if six$-$month CME

Term SOFR is currently $8\mathrm{.}7$ percent?

Note: Round your answer to $2$ decimal places.

First coupon payment