LBJ Enterprises is issuing new bonds for a capital budgeting project. The bonds will have 25.00 year maturities with a coupon rate of 7.04% APR with semi-annual coupon payments (assume a face value of $1,000 on the bond). The current market rate for similar bonds is 8.44% APR. The company hopes to raise $30.50 million with the new issue. Based on the current market rate, what will one of the new bonds sell for? Answer format: Currency: Round to: 2 decimal places. LBJ Enterprises is issuing new bonds for a capital budgeting project. The bonds will have 25.00 year maturities with a coupon rate of 7.04% APR with semi-annual coupon payments (assume a face value of $1,000 on the bond). The current market rate for similar bonds is 8.44% APR. The company hopes to raise $30.50 million with the new issue. To raise the debt, how many bonds must the company issue? (round to two decimal places) Answer format: Number: Round to: 2 decimal places