Problem $18-11$ Municipal Bonds $($LO$3,$ CFA$2)$

A municipal bond with a coupon rate of $4$ percent has a yield to maturity of $5$ percent. Assume a face value of $$5,000.$ If the bond has

$5$ years to maturity, what is the price of the bond?

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

Price of the bond