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RAK Co . wants to issue new 2 0 - year bonds for some much - needed expansion projects. The company currently has 5 .
RAK Co wants to issue new year bonds for some muchneeded expansion projects. The company currently has percent coupon bonds on the market that sell for $ have a par value of $ make semiannual payments, and mature in years.
What coupon rate should the company set on its new bonds if it wants them to sell at par?
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