Chamberlain Co. wants to issue new 13-year bonds for some much-needed expansion projects. The company currently has 11.8 percent coupon bonds on the market that sell for $1229.63, make semiannual payments, and mature in 13 years. What coupon rate should the company set on its new bonds if it wants them to sell at par? Assume a par value of $1000.

Chamberlain Co. wants to issue new 13-year bonds for some much-needed expansion projects. The company currently has 11.8 percent coupon bonds on the market that sell for $1,229.63, make semiannual payments, and mature in 13 years. What coupon rate should the company set on its new bonds if it wants them to sell at par? Assume a par value of $1,000. Multiple Choice 9.10% 8.80% O 8.50% O 8.70% 4.40% O