Suppose that, several years ago, the Canadian government issued three very similar bonds; each has a $1,000face value and a9-percent coupon rate and will mature in4years. The only difference between the bonds is the frequency of the coupon payments. Assume the market yield is now6.3percent.

a) Determine the price of the bond that pays coupons annually.(Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answer to 2 decimal places, e.g. 1564.25.)