The 8-percent-coupon-rate bonds of the Star Company have exactly 15 years remaining to maturity. The current market value of one of these $1,000-par value bonds is $700. Interest is paid semiannually. Melanie Gibson places a nominal annual required rate of return of 12 percent on these bonds. What dollar intrinsic value should Melanie place on one of these bonds (assuming semiannual discounting)?