You buy a zero coupon bond at the beginning of the year, Financial Management

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You buy a zero coupon bond at the beginning of the year

You buy a zero coupon bond at the beginning of the year that has a face value of $1,000, a YTM of 11 percent, and 23 years to maturity. You hold the bond for the entire year. Assume semiannual compounding.

How much interest income will you have to declare on your tax return? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Interest income $

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Financial Management: You buy a zero coupon bond at the beginning of the year

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