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on jnauary 1, 2002, pearce and co. will issue new bonds to finance its expansion plans. currently outstanding 8%, january 1, 2017 pearce and co.

on jnauary 1, 2002, pearce and co. will issue new bonds to finance its expansion plans. currently outstanding 8%, january 1, 2017 pearce and co. bonds are selling for $1,091.96. if the interest is paid semiannually for both bonds, what must the coupon rate of the new bonds be in order for the issue to sell at par?

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