Suppose that Telstra Corporation Ltd issued a bond with $10$ years until$$ maturity, a face value of $ $1000,$ and a coupon rate of $7\mathrm{.}5\%($annual payments$).$ The yield to maturity on this bond when it was issued was $5\mathrm{.}7\%.$ What was the price of this bond when it was$$ issued?

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Part $1$

When it was$$ issued, the price of the bond was $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$