Jill wants to buy 10-year zero coupon bonds with a face value of $1,000. Her required return on the bonds is 7.1 percent p.a. Assuming annual compounding, what would Jill be prepared to pay for the bond? ( to the nearest cent )

Select one:

a. $503.62

b. $1020.97

c. $762.30

d. $979.31