Jill wants to buy 9-year zero coupon bonds with a face value of $1,000. Her required return on the bonds is 13.8 percent p.a. Assuming annual compounding, what would Jill be prepared to pay for the bond? ( to the nearest cent )

Select one:

a. $312.41

b. $526.66

c. $419.53

d. $1696.80