Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity, a face value of $1,000, and a coupon rate of 7.4% (annual payments). The yield to maturity on this bond when it was issued was 5.5%. Assuming the yield to maturity remains constant, what is the price of the bond immediately before it makes its first coupon payment?

- Before the first coupon payment, the price of the bond is $________. (Round to the nearest cent.)