Lauren Corp. is planning to raise additional investor capital by issuing bonds. The company wants to raise $700,000 using bonds with a $1,000 face value. The bonds will mature in 12 years, carry a coupon interest rate of 7.25%, and will pay interest semiannually. If the market’s current required rate of return for debt with similar risk characteristics as Lauren Corp. is 6.0%, how much money can the company expect to raise through the issuance of these bonds (show at least 2 decimal places)? MAKE SURE YOU USE AT LEAST 4 DECIMAL PLACES WHERE APPLICABLE. YOU MUST TYPE IN ANSWER AND ALL OF YOUR WORK TO RECEIVE CREDIT.

Lauren Corp. is planning to raise additional investor capital by issuing bonds. The company wants to raise $700,000 using bonds with a $1,000 face value. The bonds will mature in 12 years, carry a coupon interest rate of 7.25%, and will pay interest semiannually. If the market’s current required rate of return for debt with similar risk characteristics as Lauren Corp. is 6.0%, how much money can the company expect to raise through the issuance of these bonds (show at least 2 decimal places)? MAKE SURE YOU USE AT LEAST 4 DECIMAL PLACES WHERE APPLICABLE. YOU MUST TYPE IN ANSWER AND ALL OF YOUR WORK TO RECEIVE CREDIT.

Lauren Corp. is planning to raise additional investor capital by issuing bonds. The company wants to raise $700,000 using bonds with a $1,000 face value. The bonds will mature in 12 years, carry a coupon interest rate of 7.25%, and will pay interest semiannually. If the market’s current required rate of return for debt with similar risk characteristics as Lauren Corp. is 6.0%, how much money can the company expect to raise through the issuance of these bonds (show at least 2 decimal places)? MAKE SURE YOU USE AT LEAST 4 DECIMAL PLACES WHERE APPLICABLE. YOU MUST TYPE IN ANSWER AND ALL OF YOUR WORK TO RECEIVE CREDIT.