Face Value $(P)$: $$1,000$

Coupon Rate $(I)$: $7\%(0\mathrm{.}07as$ a decimal$)$

Time $to$ Maturity $(T)$: $10$ years

Yield $to$ Maturity $(Y)$: $6\%(0\mathrm{.}06as$ a decimal$)$

Calculate the value $of$ the bond using the bond valuation formula, show step$-by-$step and provide the final bond value.