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A company wants to issue new 1 5 - year, $ 1 , 0 0 0 face value bonds at par. The company currently has

A company wants to issue new 15-year, $1,000 face value bonds at par. The company currently has 4.80 percent coupon bonds on the market that sell for $979.00, make semiannual interest payments, and mature in 15 years. What coupon rate should the company set on its new bonds? HINT: this is just another way of asking for the YTM of the current bonds with the same maturity date.
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