Suppose your company needs to raise $15 million and you want to issue 21-year bonds for this purpose. Assume the required return on your bond issue will be 4 percent, and you're evaluating two issue alternatives: a 4 percent semi annual coupon bond and a zero coupon bond. Your company's tax rate is 33 percent.

a. You will need to issue ________ of the coupon bonds to raise the $15 million.

You will need to issue _________ of the zeroes to raise the $15 million. (Round your answers to the nearest whole number. (e.g., 32))

b. In 21 years, your company's repayment will be $ _________ if you issue the coupon bonds. (Do not include the dollar sign ($).)

If you issue the zeroes, your company's repayment will be $ _________. (Do not include the dollar sign ($). Do not round your intermediate calculations. Round your answers to the nearest whole number. (e.g., 32)