Question: (This is a multi-step problem. If you make an error in the first step, it is unlikely that you will get the correct answers for

(This is a multi-step problem. If you make an error in

(This is a multi-step problem. If you make an error in the first step, it is unlikely that you will get the correct answers for the remaining steps. IT IS HELPFUL TO BE RIGHT FIRST TIME.) At time t = 0 (Now), in the bond market you observe a regular coupon bond with following characteristics: Face value: $1,000.00; Maturity: 4 years; Coupon rate: 7% and coupons are paid annually. The market interest ratelyour required rate of return/yield to maturity is 8.000% per annum continuously compounded. What is the bond price at time t=0 (Now)? (Round off to four decimal places, in order to get as accurate answer as possible on Canvas.)

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