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A 14-year-old Justin Bieber did a horribly racist version of his own song 5 years ago … looking into the camera and singing … “There’ll be one less lonely n*****.”

Bieber and his team tell TMZ … they want this video out, because he wants to own what he did.

We’re told when Justin was 14 … he had seen a random video online in which a comedian parodied his song, “One Less Lonely Girl,” but the guy replaced the word “girl” with the n-word.