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#17 Caspian Sea Drinks needs to raise $27.00 million by issuing bonds. It plans to issue a 12.00 year semi-annual pay bond that has a
#17 Caspian Sea Drinks needs to raise $27.00 million by issuing bonds. It plans to issue a 12.00 year semi-annual pay bond that has a coupon rate of 5.14%. The yield to maturity on the bond is expected to be 4.72%. How many bonds must Caspian Sea issue?
(Note: Your answer may not be a whole number. In reality, a company would not issue part of a bond.) Answer format: Number: Round to: 0 decimal places.
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