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Sadler Shoe Supply has one issue of bonds outstanding. These bonds have a 5.5 percent annual coupon with 14 years left until maturity and sell

Sadler Shoe Supply has one issue of bonds outstanding. These bonds have a 5.5 percent annual coupon with 14 years left until maturity and sell at 104 percent of par. The company needs to raise an additional $4 million and is considering a second bond issue. What coupon rate should Sadler Shoe Supply set on this new issue of bonds, assuming the bonds will begin selling at par?

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