Determine what is the current price of the bond

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Reference no: EM131913263

16 years ago, Blue Lake Corp. issued 30 year to maturity zero-coupon bonds with a par value of $5,000. The current interest rate on this type of bond is 11.04 percent, compounded annually.

What is the current price of the bond?

Round the answer to two decimal places.

Reference no: EM131913263

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