Assume the zero-coupon yields on default-free securities are as summarized in the following table:

Maturity	1 year	2 years	3 years	4 years	5 years
Zero-Coupon Yields	4.00%	4.30%	4.50%	4.70%	4.80 %

What is the price of a three-year, default-free security with a face value of $1,000 and an annual coupon rate of 4% ? What is the yield to maturity for this bond?

What is the price of a three-year, default-free security with a face value of $1,000 and an annual coupon rate of 4% ?

The price is $___(Round to the nearest cent.)