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Solve the problem Your company currently has $1,000 par, 6% coupon bonds with 10 years to maturity and a price of $1,072. If you want

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Your company currently has $1,000 par, 6% coupon bonds with 10 years to maturity and a price of $1,072. If you want to issue new 10 -year coupon bond: at par, what coupon rate do you need to set? Assume that for both bonds, the next coupon payment is due in exactly six months. You need to set a coupon rate of %. (Round to two decimal places.)

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