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Seabiscuit Industries needs to raise $ 6 6 . 1 1 million to fund a new project. The company will sell bonds that have a

Seabiscuit Industries needs to raise $66.11 million to fund a new project. The company will sell bonds that have a coupon rate of 13 percent paid semiannually and that mature in 20 years. The bonds will be sold at an initial YTM of 15.25 percent and have a par value of $2,000. How many bonds must be sold to raise the necessary funds?
28,517
38,754
19,869
38,388
38,425
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