Robbins Petroleum Company is three years in arrears on cumulative preferred stock dividends. There are $660,000$ preferred shares outstanding, and the annual dividend is $$7\mathrm{.}50$ per share. The Vice$-$President of Finance sees no real hope of paying the dividends in arrears. She is devising a plan to compensate the preferred stockholders for $90$ percent of the dividends in arrears.

How much should the compensation be$?$

Note: Do not round intermediate calculations. Input your answer in dollars, not millions $($e$.$g$.$ $$1,234,000).$

Robbins will compensate the preferred stockholders in the form of bonds paying $12$ percent interest in a market environment in which the going rate of interest is $12$ percent for similar bonds. The bonds will have a $15-$year maturity. Using the bond valuation Table $16-2,$ indicate the market value of a $$1,000$ par value bond.

Note: Round your answer to the nearest whole number.

Based on market value, how many bonds must be issued to provide the compensation determined in part a$?$

Note: Do not round intermediate calculations and round your answer to the nearest whole number.