Determine the price and number of bonds to be issued

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Question: The company wishes to fund the acquisition using a bond issue. Assuming the bonds will be issued for 5 years with a coupon rate of 6.5%, and GTG New Zealand wishes to raise $1,000,000. Determine the price and number of bonds to be issued given that the market rate for similar bonds is 8%.

Reference no: EM133502716

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