Problem $3-7($LG $3-2)$

BSW Corporation has a bond issue outstanding with an annual coupon rate of $8\mathrm{.}8$ percent paid quarterly and four years remaining until maturity. The par value of the bond is $$1,000.$ Determine the fair present value of the bond if market conditions justify a $14$ percent, compounded quarterly, required rate of return. $($Do not round intermediate calculations. Round your answer to $2$ decimal places. $($e$.$g$.,32\mathrm{.}16))$