Liabilities of $1,000 are due at the end of each year for the next four years. Each liability will be exactly matched to proceeds from assets. The company will exactly match liabilities by buying a one-year bond with annual coupon, a two-year bond with annual coupons, a three-year bond with annual coupons and a four-year bond with annual coupons. The coupon rate for all bonds is 4%, Determine the face amount of the one-year bond.