Question: HMK Enterprises would like to raise $10 million to invest in capital expenditures. The company plans to issue two-year bonds with a face value of

HMK Enterprises would like to raise $10 million to invest in

HMK Enterprises would like to raise $10 million to invest in capital expenditures. The company plans to issue two-year bonds with a face value of $1000 and a cou- pon rate of 6.5% (annual payments). The YTM for two-year (annual-payments) coupon corporate bonds for HMK is 6.3%. How many bonds must the firm issues to raise $10 million

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