4 years ago X corporation issues 20 year bonds with a $1000 face value. They pay $60 in coupon payments semiannually. Th

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4 years ago X corporation issues 20 year bonds with a $1000 face value. They pay $60 in coupon payments semiannually. Th

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4 years ago X corporation issues 20 year bonds with a $1000 face value. They pay $60 in coupon payments semiannually. The bond sells for $900. The firm now issues new bonds with a maturity of 10 years. Par value is $1000 and the coupon payment is $40 semiannually. Both bonds have the same yield, how many new bonds must be issues to raise $5mil.
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