Whipple Corp. just issued 320,000 bonds with a coupon rate of 6.26 percent paid semiannually that mature in 25 years. The bonds have a YTM of 6.70 percent and have a par value of $2,000. How much money was raised from the sale of the bonds? (Round your intermediate calculations to two decimal places and final answer to the nearest whole dollar amount.)
- $1,163.64 million
- $640.00 million
- $581.82 million
- $606.06 million
- $565.66 million