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Best Medical Enterprises wants to issue six hundred 20 -year, $1,000 par value, zero -coupon bonds. If each bond is priced to yield 8 percent

Best Medical Enterprises wants to issue six hundred 20 -year, $1,000 par value, zero -coupon bonds. If each bond is priced to yield 8 percent , how much will Best Medical Enterprises receive (ignoring issuance costs) when the bonds are first sold? (Show all calculations for full credit.)

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