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