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22. Tolkien, Inc., is planning to expand its stores into five other states and finance the expansion by issuing 15-year zero coupon bonds with a

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22. Tolkien, Inc., is planning to expand its stores into five other states and finance the expansion by issuing 15-year zero coupon bonds with a face value of $1,000. If your opportunity cost is 8 percent and similar coupon-bearing bonds will pay semiannually, what will be the price at which you will be willing to purchase these bonds? (Round to the nearest dollar.) a. $315 b. $822 c. $308 d. $555

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