Calculating Costs of Issuing DebtHome Improvement, Inc. needs to raise $2.60 million to finance plant expansion. In discussions with its investment bank, Home Improvement learns that the bankers recommend a debt issue with a gross proceeds of $1,000 per bond and they will charge an underwriter's spread of 6 percent of the gross proceeds. How many bonds will Home Improvement need to sell in order to receive the $2.60 million they need?

A. 2,756,000B. 2,756C. 2,765,957D. 2,766