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Lloyd Corporations 14% coupon rate, semiannual payment, $1,000 par value bonds, which mature in 30 years, are callable 5 years from today at $1,050. They

Lloyd Corporations 14% coupon rate, semiannual payment, $1,000 par value bonds, which mature in 30 years, are callable 5 years from today at $1,050. They sell at a price of $1,353.54, and the yield curve is flat. Assume that interest rates are expected to remain at their current level. b. If Lloyd plan to raise additional capital and wants to use debt financing, what coupon rate would it have to set in order to issue new bonds at par?

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