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Chamberlain Company wants to issue new 14-year bonds for some much-needed expansion projects. The company currently has 7.0 percent coupon bonds on the market that sell for $965.49, make semiannual payments, and mature in 14 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 7.30% 7.40% 7.70% 7.10% 3.70%