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Your company needs 30 million dollar and you want to issue 30-year bonds for this purpose.Assume the required return on your bond issue will be

Your company needs 30 million dollar and you want to issue 30-year bonds for this purpose.Assume the required return on your bond issue will be 6%, and you want to issue 30-year semiannual coupon bond with a coupon rate of 5%. The bond will have a par value of $1,000. How many of bonds would you need to issue to raise the $30 million?

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