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Saved BDJ Co. wants to issue new 18-year bonds for some much-needed expansion projects. The company currently has 10.4 percent coupon bonds on the market

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Saved BDJ Co. wants to issue new 18-year bonds for some much-needed expansion projects. The company currently has 10.4 percent coupon bonds on the market that sell for $1144 make semiannual payments, have a par value of $1,000, and mature in 18 years. What coupon rate should the company set on its new bonds if it wants them to sell at par? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Coupon rate

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