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Seether Co. wants to issue new 15 - year bonds for some much - needed expansion projects. The company currently has 10.0 percent coupon bonds

Seether Co. wants to issue new 15 - year bonds for some much - needed expansion projects. The company currently has 10.0 percent coupon bonds on the market that sell for $1,320.65, make semiannual pa yments, and mature in 15 years. What coupon rate should the company set on its new bonds if it wants them to sell at par?

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