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Intro Concordant Inc. wants to raise $40 million by issuing 10-year zero-coupon bonds with a yield to maturity of 8.6%. Attempt 1/10 for 10 pts.

Intro

Concordant Inc. wants to raise $40 million by issuing 10-year zero-coupon bonds with a yield to maturity of 8.6%.

Attempt 1/10 for 10 pts.

Part 1

What should be the total face value of the bonds (in $ million)?

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