Westco Company issued $16-$year bonds one year ago at a coupon rate of $7\mathrm{.}2$ percent. The bonds make semiannual payments and have a par value of $$1,000.$ If the YTM on these bonds is $5\mathrm{.}5$ percent, what is the current price of the bond in dollars?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

Answer is complete but not entirely correct.