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The MerryWeather Firm wants to raise $10 million to expand its business. To accomplish this, it plans to sell 30-year, $1,000 face value zero-coupon bonds.

The MerryWeather Firm wants to raise $10 million to expand its business. To accomplish this, it plans to sell 30-year, $1,000 face value zero-coupon bonds. The bonds have a face value of $1,000 and the yield to maturity is 6%. First calculate the price of the bond, then calculate the minimum number of bonds it must sell to raise the $10 million it needs?

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