Baxter Co$.$ wants to issue new $17-$year bonds for some much$-$needed expansion projects. The company currently has $9$ percent coupon bonds on the market that sell for $$1,070,$ make semiannual payments, and mature in $17$ years. Both bonds have a par value of $$1,000.$ What coupon rate should the company set on its new bonds if it wants them to sell at par? $($Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Coupon rate

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