Chamberlain Co. wants to issue new 19-year bonds for some much-needed expansion projects. The company currently has 11.0 percent coupon bonds on the market that sell for $925.77, make semiannual payments, and mature in 19 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 11.90% 12.00% 12.30% 11.70% 6.00%