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5. Firm XYZ wants to raise $50 million to expand its business. To accomplish this, it plans to sell 20-year, $1,000 face value, 5.5% coupon
5. Firm XYZ wants to raise $50 million to expand its business. To accomplish this, it plans to sell 20-year, $1,000 face value, 5.5% coupon bonds semiannually. The bonds will be priced to yield 6.25 percent. What is the number of bonds it must sell to raise the $50 million it needs?
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