Cullumber, Inc., has a bond issue maturing in seven years that is paying a coupon rate of $7\mathrm{.}5$ percent $($semiannual payments$).$

Management wants to retire a portion of the issue by buying the securities in the open market. If it can refinance at $6\mathrm{.}0$ percent, how

much will Cullumber pay to buy back its current outstanding bonds? Assume face value is $$1,000.($Round answer to $2$ decimal places,

e$.$g$.15\mathrm{.}25.)$

Cullumber will pay $,$$