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Highland Corp., a U.S. company, has a five-year bond with a face value of $1,000 whose yield to maturity is 6.5 percent. The bond has
Highland Corp., a U.S. company, has a five-year bond with a face value of $1,000 whose yield to maturity is 6.5 percent. The bond has no coupon payments. What is the price of this zero coupon bond? (Assume semiannual compounding for these zero-coupon bonds.) $1,113.23 $729.88 $927.83 O $726.27
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