Jenny is organizing a community event and needs to buy bottled water for the participants. Each bottle holds 500 milliliters of water. Jenny estimates that each participant will drink 1.5 liters of water during the event. If there are 200 participants, how many bottles of water should Jenny buy, and how much will it cost if each bottle costs $0.50? Let's think step by step and output the final answer within \boxed{}.
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