Selling bonds.Rawlings needs to raise

$44,600,000

for its new manufacturing plant in Jamaica. Berkman Investment Bank will sell the bond for a commission of

2.2%.

The market yield is currently

7.1%

on twenty-year zero-coupon bonds. If Rawlings wants to issue a zero-coupon bond, how many bonds will it need to sell to raise the

$44,600,000?

Assume that the bond is semiannual and issued at a par value of

$1,000.