Your company aims to raise $10 million by issuing new 15-year bonds. The current ytm on similar bonds is 5.1% p.a.. How many bonds will your company have to sell, if you decide to issue 15-year bonds with annual coupon payments, a face value of $1,000 and a coupon rate of 2.9%?

Group of answer choices

8,994

11,543

12,553

12,934