Ivanhoe, Inc., management wants to raise $$1$ million by issuing six$-$year zero coupon bonds with a face value of $$1,000.$ The company's investment banker states that investors would use an $8\mathrm{.}7$ percent discount rate to value such bonds. Assume semiannual coupon payments.

At what price would these bonds sell in the marketplace? $($Round answer to $2$ decimal places, e$.$g$.15\mathrm{.}25)$

Market Price

$

How many bonds would the firm have to issue to raise $$1$ million? $($Round answer to $0$ decimal places, e$.$g$.5,275.)$

Number of bonds