Pharoah Company is issuing eight-year bonds with a coupon rate of 5.5 percent and semiannual coupon payments. If the current market rate for similar bonds is 11 percent. Assume face value is $1,000.

What will the bond price be? (Round intermediate calculations to 5 decimal places, e.g. 1.25145 and bond price to 2 decimal places, e.g. 15.25.)

Bond price

$enter the bond price in dollars rounded to 2 decimal places

If company management wants to raise $1.25 million, how many bonds does the firm have to sell? (Round intermediate calculations to 5 decimal places, e.g. 1.25145 and number of bonds to 0 decimal places, e.g. 5,275.)

Number of bonds

enter a number of bonds rounded to 0 decimal places

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