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Micalah's Crafts needs $225,000 today to purchase some new equipment. They are planning on issuing 10-year bonds with a 6% coupon rate and semi-annual interest

Micalah's Crafts needs $225,000 today to purchase some new equipment. They are planning on issuing 10-year bonds with a 6% coupon rate and semi-annual interest payments. The current market rate of interest is 6.5%. How many bonds must Micalah's Crafts sell to raise the money they need? Multiple Choice 231 234 216 226 225

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