What coupon rate must company set on its new bonds


BDJ Co. wishes to issue new 18-year bonds for some much-required expansion projects. Company presently has 10.4% coupon bonds on market which sell for $1,144, make semiannual payments, and mature in given 18 years. What coupon rate must company set on its new bonds if it wishes them to sell at par?

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Mathematics: What coupon rate must company set on its new bonds
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