$($Related to Checkpoint $9\mathrm{.}4)($Bond valuation$)$ A bond that matures in $16$ years has a $$1,000$ par value. The annual coupon interest rate is $14$ percent and the market's

required yield to maturity on a comparable$-$risk bond is $18$ percent. What would be the value of this bond if it paid interest annually? What would be the value of this bond if it

paid interest semiannually?

a$.$ The value of this bond if it paid interest annually would be $

$($Round to the nearest cent.$)$