Bank of America Corporation (BAC) needs to raise $31 million to improve their liquidity ratios. In order to raise this amount of money, BACs will issue 9-year bonds, with $1,000 face value, 7.50% coupon rate, quarterly coupon payments, and yield to maturity of 2.00% (APR). How many bonds BAC would have to sell to raise this money? (Round up to the nearest integer).

Group of answer choices

20,481 bonds

21,396 bonds

21,351 bonds

213,503 bonds