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Seether Co. wants to issue new 13-year bonds for some much-needed expansion projects. The company currently has 9.8 percent coupon bonds on the market that

Seether Co. wants to issue new 13-year bonds for some much-needed expansion projects. The company currently has 9.8 percent coupon bonds on the market that sell for $868.69, make semiannual payments, and mature in 13 years. What coupon rate should the company set on its new bonds if it wants them to sell at par

5.90%
11.50%
12.10%
11.80%
11.70%

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