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Lunar Vacations needs to raise $ 5 , 7 0 0 , 0 0 0 for its new project ( a golf course on the

Lunar Vacations needs to raise $ 5,700,000 for its new project(a golf course on the moon). Astro Investment Bank will sell the bond for a commission of 2.6%. The market yield is currently 7.6% on twenty-year semiannual bonds. If Lunar wants to issue a 5.9% semiannual coupon bond, how many bonds will it need to sell to raise the $ 5,700,000? Assume that all bonds are issued at a par value of $ 1,000.

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