Problem 3-7 (LG 3-2) BSW Corporation has a bond issue outstanding with an annual coupon rate of 7.2 percent paid quarterly and four years remaining until maturity. The par value of the bond is $1,000. Determine the fair present value of the bond if market conditions justify a 15.5 percent, compounded quarterly, required rate of return. (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16)) Fair present value