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Hospital issued $20 million in zero-coupon, five-year bonds. How much would the hospital receive in proceeds from the bond issue? $6,210,000 $15,670,523 $18,630,000 $12,420,000

Hospital issued $20 million in zero-coupon, five-year bonds. How much would the hospital receive in proceeds from the bond issue?

$6,210,000

$15,670,523

$18,630,000

$12,420,000

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