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Your company wants to raise $10.5 million by issuing 25-year zero-coupon bonds. If the yield to maturity on the bonds will be 8 % (annual

Your company wants to raise $10.5 million by issuing 25-year zero-coupon bonds. If the yield to maturity on the bonds will be 8 % (annual compounded APR), what total face value amount of bonds must you issue?

The total face value amount of bonds that you must issue is $ nothing. (Round to the nearest cent.)

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