Its investment bank recommends a debt issue with an offer


Super Duper Auto Stores, Inc., needs to raise $144 million to finance its expansion.

Its investment bank recommends a debt issue with an offer price of $1,000 a bond and an underwriter's fee of 4 percent of the gross proceeds.

How many bonds will the company need to sell to receive the $144 million it needs?

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Financial Management: Its investment bank recommends a debt issue with an offer
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