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Dorothy Taylor is interested in buying a five year zero coupon bond with a face value of $ 1 0 0 0 . She understands

Dorothy Taylor is interested in buying a five year zero coupon bond with a face value of $1000. She understands that the market interest rate for similar investment is 8.9%. Assume annual coupon payments. What is the current value of the bond? (round to two decimal places, E.G.15.25.)

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