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Your company wants to raise $9.5 million by issuing 10-year zero-coupon bonds. If the yield to maturity on the bonds will be 6% (annual compounded

Your company wants to raise $9.5 million by issuing 10-year zero-coupon bonds. If the yield to maturity on the bonds will be 6% (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 $

(Round to the nearest cent.)

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