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Saratoga Corp. is planning to issue zero coupon bonds with a $1,000 par value and an 8 year maturity. In order to sell these bonds,

Saratoga Corp. is planning to issue zero coupon bonds with a $1,000 par value and an 8 year maturity. In order to sell these bonds, Saratoga has determined they will need to yield 8%, compounded annually. What will Saratoga price these bonds at? Round your answer to the nearest whole number and no commas

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Intermediate Financial Management

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