Moon Software Inc. is planning to issue two types of 25-year, noncallable bonds to raise a...

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Moon Software Inc. is planning to issue two types of 25-year,noncallable bonds to raise a total of $6 million, $3 million fromeach type of bond. First, 3,000 bonds with a 10% semiannual couponwill be sold at their $1,000 par value to raise $3,000,000. Theseare called "par" bonds. Second, Original Issue Discount (OID)bonds, also with a 25-year maturity and a $1,000 par value, will besold, but these bonds will have a semiannual coupon of only 6.75%.The OID bonds must be offered at below par in order to provideinvestors with the same effective yield as the par bonds. How manyOID bonds must the firm issue to raise $3,000,000? Disregardflotation costs, and round your final answer up to a whole numberof bonds.

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Moon Software Inc. is planning to issue two types of 25-year,noncallable bonds to raise a total of $6 million, $3 million fromeach type of bond. First, 3,000 bonds with a 10% semiannual couponwill be sold at their $1,000 par value to raise $3,000,000. Theseare called "par" bonds. Second, Original Issue Discount (OID)bonds, also with a 25-year maturity and a $1,000 par value, will besold, but these bonds will have a semiannual coupon of only 6.75%.The OID bonds must be offered at below par in order to provideinvestors with the same effective yield as the par bonds. How manyOID bonds must the firm issue to raise $3,000,000? Disregardflotation costs, and round your final answer up to a whole numberof bonds.