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Setrakian Industries needs to raise $99.4 million to fund a new project. The company will sell bonds that have a coupon rate of 6.02 percent paid semiannually and that mature in 25 years. The bonds will be sold at an initial YTM of 6.82 percent and have a par value of $2,000. How many bonds must be sold to raise the necessary funds? O 99,400 bonds O 181,154 bonds O 54,939 bonds O 68,674 bonds

Setrakian Industries needs to raise $99.4 million to fund a new project. The company will sell bonds that have a coupon rate of 6.02 percent paid semiannually and that mature in 25 years. The bonds will be sold at an initial YTM of 6.82 percent and have a par value of $2,000. How many bonds must be sold to raise the necessary funds? O 99,400 bonds O 181,154 bonds O 54,939 bonds O 68,674 bonds

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter6: Fixed-income Securities: Characteristics And Valuation
Section: Chapter Questions
Problem 15P
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Setrakian Industries needs to raise $99.4 million to fund a new project. The company will sell bonds that have a coupon rate of 6.02 percent paid semiannually and that mature in 25 years. The bonds will be sold at an initial YTM of 6.82 percent and have a par value of $2,000. How many bonds must be sold to raise the necessary funds? O 99,400 bonds O 181,154 bonds O 54,939 bonds 68,674 bonds A Moving to another question will save this response. Question 19 of 30
Transcribed Image Text:Setrakian Industries needs to raise $99.4 million to fund a new project. The company will sell bonds that have a coupon rate of 6.02 percent paid semiannually and that mature in 25 years. The bonds will be sold at an initial YTM of 6.82 percent and have a par value of $2,000. How many bonds must be sold to raise the necessary funds? O 99,400 bonds O 181,154 bonds O 54,939 bonds 68,674 bonds A Moving to another question will save this response. Question 19 of 30
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