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An investor wants to purchase a zero coupon bond from Timberlake Industries today. The bond will mature in exactly 5.00 years with a redemption value

An investor wants to purchase a zero coupon bond from Timberlake Industries today. The bond will mature in exactly 5.00 years with a redemption value of $1,000. The investor wants a 12.00% annual return on his investment. What is the most that the investor can pay for this bond today?

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