Westover Company Needs $2

Westover Company needs $2.5 million to expand its business.To accomplish this,the firm plans to sell 30-year,$1,000 face value zero-coupon bonds.The bonds will be priced to yield 6.25 percent with interest compounded semiannually.What is the minimum number of bonds the company must sell? Ignore all issue costs.

A) 15,841 bonds
B) 16,429 bonds
C) 40,000 bonds
D) 2,500 bonds
E) 15,410 bonds