How many bonds will wallpaper need to sell

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Reference no: EM132051472

Wallpaper needs to raise $1.09 million to finance plant expansion. Wallpaper learns that the bankers recommend a debt issue w/gross proceeds of $1,000 per bond and they will charge an underwriter's spread of 4.0% of the gross proceeds.

How many bonds will Wallpaper need to sell in order to receive the $1.09 million that is necessary?

Reference no: EM132051472

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