Suppose you structured a bond deal for Kanye West that paid him $20 million upfront, with future royalties and streaming revenues from his past albums going towards payments to bondholders. Each bond had a face value of $1,000 and a coupon rate of 8.4% with semi-annual coupons. If the bonds have 8 years remaining until maturity and the current yield to maturity is 10.4%, what price is each bond trading at right now? Round to the nearest cent.
