Setrakian Industries needs to raise $96.2 million to fund a new project. The company will sell bonds that have a coupon rate of 6.04 percent paid semiannually and that mature in 30 years. The bonds will be sold at an initial YTM of 6.85 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.)

66,997 bonds

185,900 bonds

53,598 bonds

96,200 bonds

48,100 bonds

There is a zero coupon bond that sells for $431.96 and has a par value of $1,000. If the bond has 17 years to maturity, what is the yield to maturity? Assume semiannual compounding.

5.06%

4.80%

5.00%

4.83%

4.87%

Footsteps Co. has a bond outstanding with a coupon rate of 5.4 percent and annual payments. The bond currently sells for $1,004.44, matures in 18 years, and has a par value of $1,000. What is the YTM of the bond?

5.36%

5.38%

4.47%

5.40%

4.82%