Question: Suppose you purchase a zero coupon bond with a face value of $1,000, maturing in 22 years, for $215.45. Zero coupon bonds pay the investor

Suppose you purchase a zero coupon bond with a face value of $1,000, maturing in 22 years, for $215.45. Zero coupon bonds pay the investor the face value on the maturity date. What is the implicit interest in the first year of the bond's life?

The implicit interest in the first year of the bond's life is $ ______. (Round to the nearest cent.)

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