4. Carolina issued a 25-year semi-annual non-callable bond five years ago. Bond has a $1,000 face value, coupon rate of 8% and it currently sells for $925. Carolina needs to issue 20-year semi-annual bond. New bond will be non-callable and is expected to get the same credit rating as outstanding bond issue. If Carolina wants to issue and sell new bond at par, find approximate coupon rate that needs to be assigned to the bond. (Hint: similar bonds/notes should be providing approximately same returns).