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1-(20 marks) Zhihong's Crafts needs $325,000 today to purchase some new equipment. The firm is a planning on issuing 12-year zero-coupon bonds. The current market

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1-(20 marks) Zhihong's Crafts needs $325,000 today to purchase some new equipment. The firm is a planning on issuing 12-year zero-coupon bonds. The current market rate of interest is 7.5%. How many bonds must Zhihong's Crafts sell to raise the money they need

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