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1. Cyberdyne Systems is issuing a series of zero coupon bonds to raise $500M to fund research and development at its Skynet division. Each bond

1. Cyberdyne Systems is issuing a series of zero coupon bonds to raise $500M to fund research and development at its Skynet division. Each bond will have a face value of

1000.00 and will mature in 15 years. The yield on the bond is 2%.

What is the fair price for one of Cyberdyne's zero coupon bonds?

The fair price for one of Cyberdyne's zero coupon bonds is $nothing.

(Round to the nearest cent.)

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