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Selling bonds.  Lunar Vacations needs to raise $ 5 500 000 for its new project​ (a...

Selling bonds.  Lunar Vacations needs to raise $ 5 500 000 for its new project​ (a golf course on the​ moon). Astro Investment Bank will sell the bond for a commission of 2.8 %. The market yield is currently 7.4 % on​ twenty-year semiannual bonds. If Lunar wants to issue a 6.1 % semiannual coupon​ bond, how many bonds will it need to sell to raise the $ 5 500 000​? Assume that all bonds are issued at a par value of $ 1000.

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