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10. Suppose a firm wants to raise $15.7 million by issuing bonds. It plans to issue a bond with the following characteristics: a. Coupon rate:

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10. Suppose a firm wants to raise $15.7 million by issuing bonds. It plans to issue a bond with the following characteristics: a. Coupon rate: 6% APR b. Yield to maturity: 7.6\% APR c. Coupons paid out semi-annually d. Matures 20 years away from today e. Face Value =$1,000 How many bonds does the firm need to issue? Round up to the nearest integer

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