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2. Your company wants to raise $8.0 million by issuing 15-year zero-coupon bonds. If the yield to maturity on the bonds will be 8% (annual

2. Your company wants to raise $8.0 million by issuing 15-year zero-coupon bonds. If the yield to maturity on the bonds will be 8% (annual compounded APR), what total face value amount of bonds must you issue?

The total face value amount of bonds that you must issue is $___? (Round to the nearest cent.)

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