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Pennypacker industries needs to raise $42 million by issuing bonds. It plans to issue a 16 year semi-annual pay bond that has a coupon rate

Pennypacker industries needs to raise $42 million by issuing bonds. It plans to issue a 16 year semi-annual pay bond that has a coupon rate of 4.40%. The yield to maturity on the bond is expected to be 4.70%. How many bonds must Pennypacker industries issue?

40673.98

41398.65

42473.85

43454.69

44481.71

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