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# Using semi-annual compounding, the price of a 11 year zero coupon bond that has a face value of $2,000 and a required return of 3% p. would be .

Using semi-annual compounding, the price of a 11 year zero coupon bond that has a face value of $2,000 and a required return of 3% p.a. would be .......................

**Express your answer in two decimal places**