A company needs to raise $13 million to expand its business. To accomplish this, the firm plans to sell 23-year, $1,000 face value zero-coupon bonds. The bonds will be priced to yield 8 percent. What is the minimum number of bonds they must sell to raise the $13 million it needs? (Choose the closest answer)

Select one:

a. 83,962

b. 67,170

c. 73,066

d. 76,329

e. 92,358