Using the Duration Rule, estimate the new price of a bond with the following characteristics: A 4-year semiannual 8% coupon bond is selling at $1,068.12 (par value is $1,000 ) with a yield of 6.06%. It's modified duration is 3.42 . If the yield drops to 5.92%, what is the estimated new price? (Do not round intermediate calculations. Round final answer to two decimal ploces ie. 1234.56. Do not include a dollar sign with your answer) Numeric Response