$($Related to Checkpoint$9\mathrm{.}3)($Bond valuation$)$Calculate the value of a bond that matures in $14$ years and has a $$1,000$ par value. The annual coupon interest rate is $9$ percent and the$$ market's required yield to maturity on a$$ comparable$-$risk bond is $15$ percent.

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Part $1$

The value of the bond is $$$enter your response here.