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Bruin Co. wants to issue a new 10-year bonds to support its expansion plans. The company currently has 9.1 percent coupon bonds on the market

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Bruin Co. wants to issue a new 10-year bonds to support its expansion plans. The company currently has 9.1 percent coupon bonds on the market that sell for $1,075, make semiannual payments and mature in 10 years. The face value of the bond is $1,000. What approximate coupon rate should the company set on its new bonds if it wants to sell at a par? Select one: O a. 7.7 percent O b. 8.0 percent O c. 9.8 percent O d. 9.5 percent O e. 8.8 percent

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