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Michelle Walker is interested in buying a five - year zero coupon bond with a face value of $ 1 , 0 0 0 .

Michelle Walker 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 10.0 percent. Assume annual coupon payments. What is the current value of this bond? (Round answer to 2 decimal places, e.g.15.25.)

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