(Bond valuationlong dash zero coupon?) The Latham Corporation is planning on issuing bonds that pay no interest but can be converted into $1000 at? maturity, 7 years from their purchase. To price these bonds competitively with other bonds of equal? risk, it is determined that they should yield 7 percent, compounded annually. At what price should the Latham Corporation sell these? bonds?
A. The price of the Latham Corporation bonds should be $??? (round to the nearest cent)