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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 $1000 and a coupon rate of 7% (annual payments). The following table summarizes the YTM for similar ten-year corporate bonds of various credit ratings: Rating YTM AAA AA A BB 6.52% 6.72% 6.82% 7.22% 7.72% 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: O A. 33,834 O B. 19,334 O C. 29,000 OD 24167

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