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 $$1,000$ and will mature in $6$ years. The yield on the bond is $1\mathrm{.}5\%.$ The

fair price for one of Cyberdyne's zero coupon bond is $

$($ Round to two

decimal places.$)$