Question: Ivanhoe Corp., a U.S. company, has a five-year bond whose yield to maturity is 7.4 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 7.4 percent (assume semiannual compounding). The bond has no coupon payments. What is the price of this zero coupon bond? (Round answer to 2 decimal places, e.g. 5,275.25.)

Price of zero coupon bond

$ _________

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