You have purchased a bond with a par value of $$1,000$ that pays a semi$-$annual coupon rate of $5\%.$ The bond has a remaining term of $5$ years. The required yield to maturity on this bond is $8\%.$ Calculate the value of the bond. The value should be dollars and cents $($or two decimal place and no dollar sign $...$example $2000\mathrm{.}25).$ The value of the bond is positive so enter as a positive number.

PV of the Bond $[$PV$]$