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A company wants to issue new 10-year, $1000 face value bonds at pat. The company currently has 767 percent coupon bonds on the market that

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A company wants to issue new 10-year, $1000 face value bonds at pat. The company currently has 767 percent coupon bonds on the market that sell for $983.20, make semiannual interest payments, and mature in 10 years. What coupon rate should the company set on its new bonds? Enter as a whole number with two decimal places and no percent sign. (e 1.23) Numeric Response

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