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Question 1(1 point) Marco Chip, Inc. just issued zero-coupon bonds with a par value of $1,000. The bond has a maturity of 29 years and

Question 1(1 point)

Marco Chip, Inc. just issued zero-coupon bonds with a par value of $1,000. The bond has a maturity of 29 years and a yield to maturity of 11.91 percent, compounded semi-annually. What is the current price of the bond?

Round the answer to two decimal places.

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