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ABCD Company plans to raise $90,000,000 by issuing 10-year semiannual coupon bonds with coupon rate of 6.40%, yield to maturity of 7.38%, and face value
ABCD Company plans to raise $90,000,000 by issuing 10-year semiannual coupon bonds with coupon rate of 6.40%, yield to maturity of 7.38%, and face value of $1,000. How many bonds should ABCD sell in order to raise the $90,000,000 it needs?
A.) 96,614 bonds
B.) 90,000 bonds
C.) 83,572 bonds
D.) 93,353 bonds
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