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Ten-year zero coupon bonds issued by the U.S. Treasury have a face value of $1,000 and interest is compounded semiannually. If similar bonds in the

Ten-year zero coupon bonds issued by the U.S. Treasury have a face value of $1,000 and interest is compounded semiannually. If similar bonds in the market yield 7.4 percent, what is the value of these bonds?(Round answer to 2 decimal places, e.g. 15.25.)

Value of bond$ ( )

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