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CJ's offers a $1,000 face value, zero coupon bond with a yield to maturity of 11.5 percent, given annual compounding. The bond matures in 16

CJ's offers a $1,000 face value, zero coupon bond with a yield to maturity of 11.5 percent, given annual compounding. The bond matures in 16 years. What is the current price?

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