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Suppose your company needs to raise $ 2 . 5 4 million and you want to issue 2 0 - year bonds for this purpose.
Suppose your company needs to raise $ million and you want to issue year bonds for this purpose. Assume the required return on your bond issue will be percent, and you are evaluating two issue alternatives: a semiannual coupon bond with a coupon rate of percent and a zero coupon bond. Your company's tax rate is percent. Both bonds will have a par value of $
How many of the coupon bonds would you need to issue to raise the $ million?
Do not include commas in your response. Do not round intermediate calculations and round your final answer to the nearest integer.
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