Chamberlain Company wants to issue new 15-year bonds for some much-needed expansion projects. The company currently has 7.0 percent coupon bonds on the market that sell for $881.84, make semiannual payments, and mature in 15 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. A-4.20%

B-8.40%

C-8.70%

D-8.30%

E-8.10%