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What total face value of bonds must be sold

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Question - A firm needs to raise $338 million to expand operations. The CFO plans to sell 15-year zero-coupon bonds to fund the project. Bonds of similar maturity and risk are priced by the market to yield a 4.2% semiannual APR. What total face value of bonds must be sold to raise the cash?

Reference no: EM132950711

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