$($Related to Checkpoint $9\mathrm{.}3)($Bond valuation$)$ Calculate the value of a bond

that matures in $12$ years and has a $$1,000$ par value. The annual coupon interest

rate is $11$ percent and the market's required yield to maturity on

a comparable$-$risk bond is $14$ percent.

The value of the bond is $$.($Round to the nearest cent.$)$