6) Mette Badminton Equipment Co. wants to raise $10 million to expand operations. To accomplish this, it plans to issue 15-year bonds with a face value of $1,000. The coupon rate is set at 9% and the coupons will be paid semi-annually. The bonds are priced at a yield-to- maturity of 8%. What is the minimum number of bonds the firm must sell to raise the $10 million.

a) 9211.54 b) 9212 c) 9204.20 d) 10000 e) 9205