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14. Moon software Inc. is planning to issue two types of 25-year, non-callable bonds to raise a total of $6 million, $3 million from each

14. Moon software Inc. is planning to issue two types of 25-year, non-callable bonds to raise a total of $6 million, $3 million from each type of bond. First, 3000 bonds with a 10% semiannual coupon will be sold at their $1000 per value to raise $3 million. These are called par bonds. Second, Original Issue Discount(OID) bonds, also with a 25 year maturity and a $1000 par value, will be sold, but these bonds will have a semi-annual coupon of only 6.25%. The OID bonds must be offered at below par in order to provide investors with the same effective yield as the par bond. How many OID bonds must the firm issue to raise $3 million? Disregard flotation, costs, and round your final answer up to a whole number of bonds. (Not multiple choice question)

CAN YOU PLEASE SHOW ALL WORK SO I CAN LEARN HOW TO DO IT FOR FUTURE PROBLEMS TOO :)

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