Renees Boutique, Inc., needs to raise $58.19 million to finance firm expansion. In discussions with its investment
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Question:
Renees Boutique, Inc., needs to raise $58.19 million to finance firm expansion. In discussions with its investment bank, Renees learns that the bankers recommend a debt issue with an offer price of $1,000 per bond and they will charge an underwriters spread of 7.5 percent of the gross price.
| Calculate the net proceeds to Renees from the sale of the debt. (Enter your answer in millions of dollars and round to 2 decimal places.) |
| Net proceeds to Renees | $ m |
| How many bonds will Renees Boutique need to sell in order to receive the $58.19 million it needs? (Do not round intermediate calculations and round your final answer to the nearest whole number.) |
| Number of bonds | bonds |
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