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Infinitive Photography wants to raise $35,000,000 by selling corporate bonds. The company plans to issue $5,000 par bonds with a 9.0% coupon rate (annual payments).

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Infinitive Photography wants to raise $35,000,000 by selling corporate bonds. The company plans to issue $5,000 par bonds with a 9.0% coupon rate (annual payments). The bonds will mature in 25 years. If the market assigns a yield to maturity of 6.9% to these bonds, Infinitive Photography will need to sell bonds (rounded up to the nearest whole number) to raise the needed $35,000,000. Enter your answer as a whole number rounded up, but do not include any commas with your answer. For example, record 23,217.18 bonds as 23218. Your Answer: Answer Previous Page Next Page Page 15 of 41

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