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Karen White is interested in buying a five-year zero coupon bond with a face value of $1,000. She understands that the market interest rate for

Karen White is interested in buying a five-year zero coupon bond with a face value of $1,000. She understands that the market interest rate for similar investments is 11.9 percent. Assume annual coupon payments. What is the current value of this bond? (Round answer to 2 decimal places, e.g. 15.25.)

Current value of bond _____

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