Jill wants to buy 8-year zero coupon bonds with a face value of $1,000. Her required return on the bonds is 7.6 percent p.a. Assuming annual compounding, what would Jill be prepared to pay for the bond? ( to the nearest cent )

Select one:

a. $556.55

b. $813.28

c. $684.91

d. $1211.93