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Peter is renovating his company's headquarters. He recently depleted all his cash reserves on strategic cosmetic upgrades, so he needs to raise additional capital in

Peter is renovating his company's headquarters. He recently depleted all his cash reserves on strategic cosmetic upgrades, so he needs to raise additional capital in order to finance long-delayed maintenance CAPEX on his company's roof. He decides to raise this capital through the issuance of 30-year, zero-coupon bonds. The prevailing effective yield-to-maturity on such bonds is 1.5% semi-annually. If Peter issues 10,000 bonds, how much total capital can he raise?

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