Question: How much would you pay for a zero-coupon bond with a par value of $1000, and a maturity of 15 years, if your required rate

How much would you pay for a zero-coupon bond with a par value of $1000, and a maturity of 15 years, if your required rate of return is 11.5%? Assume annual discounting. (Round your answer to the nearest penny.)

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