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ABC Corporation is planning 2 new issues of 25-year bonds, as described below: Bond A, that will be sold at its $1,000 par value, and
"ABC" Corporation is planning 2 new issues of 25-year bonds, as described below: Bond "A", that will be sold at its $1,000 par value, and it will have a 10% coupon rate, payable on a semiannual basis. Bond "B", that will also have a 25-year maturity and a $1,000 par value, but its coupon will be only 6.25%, payable on a semiannual basis. Based on the above-given information, how many bonds of the bond "B" must "ABC" Corporation issue to raise $33,000,000?
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