Calculating Costs of Issuing Debt Home Improvement, Inc. needs to raise $2.70 million to finance plant expansion.

Calculating Costs of Issuing Debt Home Improvement, Inc. needs to raise $2.70 million to finance plant expansion. In discussions with its investment bank, Home Improvement learns that the bankers recommend a debt issue with a gross proceeds of $1,000 per bond and they will charge an underwriter's spread of 8 percent of the gross proceeds. How many bonds will Home Improvement need to sell in order to receive the $2.70 million they need?

A. 2,916,000

B. 2,935

C. 2,916

D.  2,934,783