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Luther Industries needs to raise $25 million to fund a new office complex The company plans on issuing ten-year bonds with a face value of

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Luther Industries needs to raise $25 million to fund a new office complex The company plans on issuing ten-year bonds with a face value of 51000 and a coupon rate of 62% (annual payments) The following table summarizes the YTM for similar ten-year corporate bonds of various credit ratings Rating AAA AA 6.85% 7.05% 7.15% 7.55% 8.05% A BBB BB YIM Assuming that Luther's bonds receive a AAA rating, the number of bonds that Luther must issue to raise the needed $25 million is closest to OA. 36,687 OB 26205 OC. 20,964 D. 31.446 A

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