J&J Enterprises wants to issue 20-year, $1,000 face value zero-coupon bonds. If each bond is to yield 7%, what is the minimum number of bonds J&J must sell if they wish to raise $5 million from the sale? (Ignore issuance costs.)

1. A) 17,290
2. B) 19,349
3. C) 20,164
4. D) 23,880
5. E) 26,159