Two bonds have par values of $1,000. One is a 6%, 20-year bond priced to yield 8.0%. The other is a(n) 7.5%, 24-year bond priced to yield 6.0%. Which of these two has the lower price? (Assume annual compounding in both cases.)
The price, PV, of the 6%, 20-year bond is $\boxed{\text{ }}$ (Round to the nearest cent.)