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GSU Enterprises is issuing new bonds for a capital budgeting project. The bonds will mature in 2 0 years and have a coupon rate of

GSU Enterprises is issuing new bonds for a capital budgeting project. The bonds will mature in 20 years and have a coupon rate of 5.80% with semi-annual coupon payments (assume a par value of $1,000 on the bond). The current yield-to-maturity for similar bonds is 6.00%. The company hopes to raise $31,000,000 with the new issue. To raise the debt, how many bonds must the company issue? (Round your answer up to the nearest whole number)

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