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A company looking to raise capital is considering issuing new 15-year bonds. The company currently has 5% coupon bonds on the market that mature in

A company looking to raise capital is considering issuing new 15-year bonds. The company currently has 5% coupon bonds on the market that mature in 15 years, have a 8% YTM, and make semi-annual payments. If the company wants the new bonds to sell at par value, what coupon rate should it set on the new bonds?

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