JRJ Corporation Recently Issued 10-Year Bonds at a Price of R1,000.These

JRJ Corporation recently issued 10-year bonds at a price of R1,000.These bonds pay R60 in interest each six months.Their price has remained stable since they were issued, i.e., they still sell for R1,000.Due to additional financing needs, the firm wishes to issue new bonds that would have a maturity of 10 years, a par value of R1,000, and pay R40 in interest every six months.If both bonds have the same yield, how many new bonds must JRJ issue to raise R2,000,000 cash?

A) 2,400
B) 2,596
C) 3,000
D) 5,000
E) 4,275