Question: Robertsons, Inc., is planning to expand its specialty stores into five other states and finance the expansion by issuing 10-year zero coupon bonds with a

Robertsons, Inc., is planning to expand its specialty stores into five other states and finance the expansion by issuing 10-year zero coupon bonds with a face value of $1,000. If your opportunity cost is 7 percent and similar coupon-bearing bonds will pay semiannually, what will be the bond price at which you will be willing to purchase these bonds? (Round your answer to the nearest dollar.)

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