Question: You have a $1,000 face value bond. You know that it originally had a maturity of 14 years, one year ago. This bond has 7.9%

You have a $1,000 face value bond. You know that it

You have a $1,000 face value bond. You know that it originally had a maturity of 14 years, one year ago. This bond has 7.9% annual rate coupons, that are paid twice a year. The market for bonds like this has a YTM of 5.6% What is the current price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 12.34.)

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