How many bonds must firm issue

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Reference no: EM131520412

Edmonds Enterprises, Inc. wants to raise $22 million by issuing 15-year, zero coupon bonds. The market requires an 6.0 percent return on similar bonds. The face value per bond will be $1,000. How many bonds must the firm Issue? Ignore all Issue and transaction costs.

Reference no: EM131520412

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