What must the coupon rate of the new bonds be in order for


A company wants to issue new 10-year bonds to finance its expansion plans. Currently the company has 9 percent semiannual bonds selling for $1,067.95 that mature 10 years from now. What must the coupon rate of the new bonds be in order for the issue to sell at par if interest is paid semiannually?

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Finance Basics: What must the coupon rate of the new bonds be in order for
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