Seether Co. wants to issue new 18-year bonds for some much-needed expansion projects. The company currently has 10.2 percent coupon bonds on the market that sell for $1,207.99, make semiannual payments, and mature in 18 years. What coupon rate should the company set on its new bonds if it wants them to sell at par?

• 7.70%

• 4.00%

• 7.90%

• 8.00%

• 8.30%