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Eno Corp. currently has $1000 par, 6% coupon bonds with ten years to maturity. Its price today is $1078 and the bond makes semiannual coupons.
Eno Corp. currently has $1000 par, 6% coupon bonds with ten years to maturity. Its price today is $1078 and the bond makes semiannual coupons. If the company wants to issue new ten-year bond at par, what coupon rate do you need to set? Express your answer as in APR.
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