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Harrington Farms is planning to issue bonds. Each bond will have a $ 5 , 0 0 0 face value. The bonds are set to

Harrington Farms is planning to issue bonds. Each bond will have a $5,000 face value. The bonds are set to have a coupon of 5.75% interest. There is a total of 1,000 bonds being issued. Current rates have fallen to 4.15%. What is the value of each bond? How much will the company raise? Will they raise more or less than what they had intended? (Assume semiannual compounding)

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