Chamberlain Company wants to issue new 18 -year bonds for some much-needed expansion projects. The company currently has 12.0 percent coupon bonds on the market that sell for $1,480.05, make semiannual payments, and mature in 18 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 6.90% 7.20% 7.50% 3.60% 7.10%