Question $8$

$2$ pts

As with most bonds, consider a bond with a face value of $$1,000.$ The bond's maturity is $27$ years, the coupon rate is $9\%$ paid semiannually, and the market yield $($discount rate$)$ is $14\%.$

What is the estimated value of this bond today?

Enter your answer in terms of dollars and cents, rounded to $2$ decimals, and without the dollar sign. That means, for example, that if your answer is $$127\mathrm{.}5678,$ you must enter $127\mathrm{.}57$