The Texarkana government wants to build new dam projects to prevent flood in the flood vulnerable areas and it needs $10 million and it wants to issue new 19-year semi-annual bonds for some much-needed expansion projects. The bonds currently have 9.3 percent coupon and the YTM is 10%. How many issues of bonds the government needs to issue? 1) 10,424 issues 2) 10,628 issues 3) 10,835 issues 4) 11.004 issues 5) 11.247 issues 8 5 6