You are considering a $10-$year, $$1,000$ par value bond. Its coupon rate is $8\%,$ and interest is paid semiannually. If you require an "effective" annual interest rate $($not a nominal rate$)$ of $7\mathrm{.}1225\%,$ how much should you be willing to pay for the bond? Do not round intermediate calculations. Round your answer to the nearest cent.

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