Issue in order to raise the desired amount of funding

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Reference no: EM131045706

LibreOffice, Inc. wants to raise $10 million dollars in debt financing. It wants to offer a $1,000 face value, 8.5 percent coupon bond with annual payments and 10 years to maturity. The yield to maturity on similar bonds out in the marketplace is 9.3 percent. How many bonds must the firm issue in order to raise the desired amount of funding?

Reference no: EM131045706

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