$($Related to Checkpoint $9\mathrm{.}3)($Bond valuation$)$ Pybus, Inc. is considering issuing bonds that will mature in $17$ years with an annual coupon rate of $12$ percent. Their par value will be

$$1,000,$ and the interest will be paid semiannually. Pybus is hoping to get a AA rating on its bonds and, if it does, the yield to maturity on similar AA bonds is $7$ percent. However, Pybus is

not sure whether the new bonds will receive a AA rating. If they receive an A rating, the yield to maturity on similar A bonds is $8$ percent. What will be the price of these bonds if they receive

either an A or a AA rating?

a$.$ The price of the Pybus bonds if they receive a AA rating will be $$.($Round to the nearest cent.$)$