Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity, a face value of

$ 1000

,

and a coupon rate of

7.7 %

(annual payments). The yield to maturity on this bond when it was issued was

6.2 %

.

What was the price of this bond when it was issued?

When it was issued, the price of the bond was

$

.

(Round to the nearest cent.)