Chamberlain Co. wants to issue new bonds for some much-needed expansion projects. The table below details the terms of the bonds that are currently outstanding. The company wishes to issue the new bonds with the same years to maturity as the current bonds. What coupon rate should the company set on its new bonds if it wants the new bonds to sell at par?
	Years to Maturity		30
	Current Annual Coupon Rate		9.00%
	Coupons per year		2
	Redemtion value (% of par)		100
	Bond price (% of par)		107.00%
	Use the scratchpad to show your work in Excel.
	Type your numercial answer into the yellow cells below.
	Answers should be to two decimal places, e.g. 1.23% or $123.45.
	Coupon Rate on New Bonds