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A company looking to raise funds has decided to issue 10-year zero-coupon bonds. The bonds will have a $1,000 face value and the required return

A company looking to raise funds has decided to issue 10-year zero-coupon bonds. The bonds will have a $1,000 face value and the required return is 4%. What amount will these bonds sell for when issued?

Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas and the $ sign in your response. For example, an answer of $2,000.50 should be entered as 2000.50.

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