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2. The Dairy Delight wants to raise $1.0 million by selling some coupon bonds at par. Comparable bonds in the market have a 6.5 percent

2. The Dairy Delight wants to raise $1.0 million by selling some coupon bonds at par. Comparable bonds in the market have a 6.5 percent annual coupon, 15 years to maturity, and are selling at 98 percent of par. What coupon rate should The Dairy Delight set on its bonds? Please show me the steps instead of using a financial calculator.

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