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Lowell Corporation recently issued 1 0 - year bonds at a price of $ 1 , 0 0 0 with a 8 percent semi -
Lowell Corporation recently issued year bonds at a price of $ with a percent semiannual coupon at par. Now it wishes to issue new year bonds with percent semiannual coupon with a face value of $ If both bonds have the same yieldtomaturity, how many new bonds must Lowell issue to raise $ cash?
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