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Setrakian Industries needs to raise $94.8 million to fund a new project. The company will sell bonds that have a coupon rate of 5.98 percent
Setrakian Industries needs to raise $94.8 million to fund a new project. The company will sell bonds that have a coupon rate of 5.98 percent paid semiannually and that mature in 15 years. The bonds will be sold at an initial YTM of 6.76 percent and have a par value of $2,000. How many bonds must be sold to raise the necessary funds? (Round your intermediate calculations to two decimal places and final answer to the nearest whole number.) Multiple Choice 94,800 bonds 63,903 bonds 47,400 bonds 51,123 bonds 145,540 bonds
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