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Seether Co. wants to issue new 14-year bonds for some much-needed expansion projects. The company currently has 6.4 percent coupon bonds on the market that

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Seether Co. wants to issue new 14-year bonds for some much-needed expansion projects. The company currently has 6.4 percent coupon bonds on the market that sell for $708.41, make semiannual payments, and mature in 14 years. What coupon rate should the company set on its new bonds if it wants them to sell at par? 10.30% 5.20% 10.40% 10.70% 10.10%

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