Suppose that a risk free project will generate the following cash flows:

$400 in year 1, $500 in year 2, $500 in year 3, $600 in year 4, $600 in year 5.

The prices of risk free, zero coupon bonds with $1000 face value and different maturities are:

$940 for 1-year maturity, $870 for 2-year maturity, $760 for 3-year maturity, $640 for 4-year maturity, $500 for 5-year maturity.


Given these risk free bonds, what is the price (i.e., discounted present value) of the project?