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BDJ Co. wants to issue new 22-year bonds for some much-needed expansion projects. The company currently has 9.2 percent coupon bonds on the market that

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BDJ Co. wants to issue new 22-year bonds for some much-needed expansion projects. The company currently has 9.2 percent coupon bonds on the market that sell for $1, 132, make semiannual payments, and mature in 22 years. Required: What coupon rate should the company set on its new bonds if it wants them to sell at par? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16)) Coupon rate

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