The Sheridan Department of Transportation has issued $25-$year bonds that make semiannual coupon payments at a rate of

$10\mathrm{.}325$ percent. The current market rate for similar securities is $11\mathrm{.}80$ percent. Assume that the face value of the bond is

$$1,000.$

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Problem $8\mathrm{.}29$ a$-$d $($Excel Video$)($a$)$

What is the current market value of one of these bonds? $($Round answer to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$

Current market value $

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