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Xanth Co. has 4.2% annual coupon bonds with face value of $1,000 and 5 years remaining until maturity. The bonds are priced to yield 6.0%.

Xanth Co. has 4.2% annual coupon bonds with face value of $1,000 and 5 years remaining until maturity. The bonds are priced to yield 6.0%. What is the present value of the bonds face value to be repaid at maturity (do not include the coupon payments)? (please solve using N, I/Y, PV, PMT, and FV on a financial calculator)

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