(Answered) Suppose you want to raise 15m for a new machine you plan to

Finance

Suppose you want to raise $15m for a new machine. You plan to raise the funds by selling 20-year $1,000 bonds with a semi-annual coupon rate of 5% and 8% yield. Before putting the bonds to market, inflation drops half a percent. Prior to the inflation rate change, how many bonds must your company sell to raise the required capital? (rounded to nearest whole integer)

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