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Question 27 O pts Chipotle wants to issue new $1,000 Face Value 20 year bonds for expansion. The company currently has 7% Coupon (paid annually)
Question 27 O pts Chipotle wants to issue new $1,000 Face Value 20 year bonds for expansion. The company currently has 7% Coupon (paid annually) bonds on the market that sell for $901.82, make annual payments, and mature in 20 years. What annual Coupon rate should the company set on its new bonds (with similar terms to its current bonds) if it wants them to sell at par? Show your work here. You will not receive credit without showing your work. Highlight your
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