Question 5 (CHAPTER 7) A corporation has just issued 4% coupon bonds with $1,000 face value. These bonds will mature in 19 years, and until then they will be making annual payments to their holders. The yield to maturity on these bonds is 11%. Given these bond characteristics, how much should each of these bonds be selling for in today's market? (Increase decimal places for any intermediate calculations, from the default 2 to 6 or higher. Only round your final answer to TWO decimal places: for example, 1,000.23. Do NOT use "$" in your answer.)