Suppose that at an interest rate of i = 10%, an asset has a price of P(i) = 1,060 and a Macauley duration of D_mod = 10.5. Using the first-order approximation of price using the Macauley duration to estimate the price if the interest rate changes to j = 11.4% . Hint: use the formula

()=()(1+1+)P(j)=P(i)(1+i1+j)Dmac

. Enter your answer to 2 decimal places.