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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 $ million to fund a new project. The company will sell bonds that have a coupon rate of percent paid semiannually and that mature in years. The bonds will be sold at an initial YTM of percent and have a par value of $ How many bonds must be sold to raise the necessary funds?
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