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New Business Ventures Inc. has an outstanding perpetual bond with a $12$ percent coupon rate that can be called

$10$

in one year. The bond makes annual points coupon payments. The call premium is set at $$190$ over par value. There is a $35$ percent chance that the interest rate in one year will be $14$ percent, and a $65$ percent chance that the interest rate will be $11$ percent. If the current interest rate is $12$ percent, what is the current one$-$year market price of the bond? $($Do not round intermediate calculations. Round the final answer to $2$ decimal places. Omit $ sign in your response.$)$

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