Peter Parker Corp. plans to issue a $1,000 par value, semi-annual pay bond with 30 years to maturity and a coupon rate of 5.50%. The company expects the bonds to sell for $820.00. MC Incs cost of debt is estimated to be _______%.

LBJ Enterprises is issuing new bonds for a capital budgeting project. The bonds will mature in 20 years and have a coupon rate of 5.80% with semi-annual coupon payments (assume a par value of $1,000 on the bond). The current yield-to-maturity for similar bonds is 6.00%. The company hopes to raise $16 million with the new issue. To raise the debt, how many bonds must the company issue? (Round to the nearest whole number).