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Microsoft Corporation needs to raise $ 1 0 0 million to make a strategic acquisition. The company will sell bonds that have a coupon rate

Microsoft Corporation needs to raise $100 million to make a strategic acquisition. The
company will sell bonds that have a coupon rate of 4.75 percent paid semiannually and that
mature in 20 years. The bonds will be sold at an initial YTM of 5.10 percent and have a par
value of $1,000. How many bonds must be sold to raise the necessary funds?

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