ABC Industries needs to raise $92.5 million to fund a new project. The company will sell bonds that have a coupon rate of 5.50 percent paid semiannually and that mature in 30 years. The bonds will be sold at an initial YTM of 6.73 percent and have a par value of $2,000. How many bonds must be sold to raise the necessary funds?

92,500 bonds

54,907 bonds

64,144 bonds

51,315 bonds