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OPM, Inc. wants to issue new 30-year bonds for a new 5 million expansion projects. The company currently has 7.5 percent coupon bonds on the

OPM, Inc. wants to issue new 30-year bonds for a new 5 million expansion projects. The company currently has 7.5 percent coupon bonds on the market that sell for $965, make semiannual payments, and mature in 30 years. What coupon rate should the company set on its new bonds if it wants them to sell at par?

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