Michael Phelps Inc., is planning to expand its specialty stores into five other states and finance the expansion by issuing 30-year zero coupon bonds with a face value of $1,000. If your opportunity cost is 2 percent and similar coupon-bearing bonds will pay semiannually, what will be the price at which you will be willing to purchase these bonds? (Round your answer to the nearest dollar) $305 $409 $550 $388