XYZs stock is selling for $46.1 per share and has an expected constant growth rate of 5.4%. The company is considering issuing a 10-year convertible bond that would be priced at its $1,000 par value. The bonds would have an 8.50% annual coupon, and each bond could be converted into 23 shares of common stock. The required rate of return on an otherwise similar nonconvertible bond is 10.00%. What is the straight debt value at the end of Year 3? (answer in dollars and round your answer to 2 decimal places)

answer is 926.97

show math please :)