You and your friend Shallan make a deal: Together, you will buy a single 1,000 par bond and split the proceeds, but instead of splitting each cash payment 50/50, you will receive all of the coupon payments and your friend will receive the entire 1,000 at maturity. The bond you are considering is a straight bond, has a coupon rate of 12%, pays coupons semi-annually, matures in 9 years, and is selling at a YTM (BEY) of 12%. What is a fair price for your share of this deal