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General Matter's outstanding bond issue has a coupon rate of 1 0 % , and it sells at a yield to maturity of 8 .

General Matter's outstanding bond issue has a coupon rate of 10%, and it sells at a yield to maturity of 8.25%. The firm wishes to issue additional bonds to the public. What cooupon rate must the new bonds offer in order to sell at face value?
Note: Enter your answer as a percent rounded to 2 decimal places

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