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Wyndham Hotels & Resorts, Inc. needs to raise $ 6 0 0 million in capital to fund new product development. The company wants to issue

Wyndham Hotels & Resorts, Inc. needs to raise $600 million in capital to fund new product
development. The company wants to issue zero-coupon 12-year bonds in the US (remember the
semiannual yield convention); similar bonds sell at a yield of 5.75%. If Wyndham's bonds are
issued at a yield of 5.75%, how much face value of debt (rounded to the nearest $1000) must
they issue in order to raise the desired $600 million?

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