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Xin Low Incorporated wants to issue sixty, 20-year, $1,000 par value, zero-coupon bonds.

Xin Low Incorporated wants to issue sixty, 20-year, $1,000 par value, zero-coupon bonds. If each bond is priced to yield 7 percent, how much will Xin Low receive (ignoring issuance costs) when the bonds are first sold? Answer to the nearest whole dollar
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