WSGD Holdings specializes in buying heavily undervalued bonds. To do that this firm mainly searches bonds, which are being trading at well below par value and have relatively longer period to maturity. He has his eye on a bond issued by Western Group. The $1,000 par value bond provides 7 percent annual coupon rate and has 14 years remaining to maturity. The current yield to maturity on similar bonds is 9 percent. What is the current price of the bonds?