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A company wants to issue new 20-year bonds to raise capital. Currently, the company has 6% coupon bonds on the market that make semi-annual payments,

A company wants to issue new 20-year bonds to raise capital. Currently, the company has 6% coupon bonds on the market that make semi-annual payments, have a 7% YTM, and mature in 20 years. What coupon rate should the company set on its new bonds if it wants them to sell at par value? Do not round intermediate calculations. Round final answer to two decimal places

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