Question: Ivanhoe Corp., a U.S. company, has a five-year bond whose yield to maturity is 7.1 percent (assume semiannual compounding). The bond has no coupon payments.

Ivanhoe Corp., a U.S. company, has a five-year bond whose yield to maturity is 7.1 percent (assume semiannual compounding). The bond has no coupon payments. What is the price of this zero-coupon bond?

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