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Miller Brothers needs to raise $12 million for an expansion project. They intend to raise this fund by selling 8.0 percent coupon bonds with par

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Miller Brothers needs to raise $12 million for an expansion project. They intend to raise this fund by selling 8.0 percent coupon bonds with par value of $1,000 and maturity of 15 years. The market yield on similar bonds is 7.4 percent. a. How many bonds must Miller Brothers sell to raise the money it needs? b. Suppose the expected inflation rate over the investment period is 3.75 percent per year, calculate the real rate of return to the bond's investors? c. What would the after-tax yield be to an investor in 28% tax bracket

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