Mohit Kabra, CFO of MakeMyTrip, announced that the company plans to raise $12 million with a zero-coupon bond offering. If the bonds mature in 30 years and are priced to yield 5%, what is the lowest amount of bonds MakeMyTrip should sell to achieve its fundraising goal?

Multiple Choice

• 44,555

• 105,595

• 52,797

• 55,155

• 49,011