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Guv-Mint Bales needs to raise $200,000,000 (200 Million) in new debt to finance its survival. The...

Guv-Mint Bales needs to raise $200,000,000 (200 Million) in new debt to finance its survival. The debt will be priced at a yield to maturity of 8.64%. These will be 10 year bonds with a coupon rate set at 7% to be paid annually. The investment bankers are charging a flotation cost of 3.24%. Bonds will have a face value of $1,000 per bond.  Compute the number of bonds to be issued and round to the second decimal place.

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