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The coupon rate of Piggly-Wiggly Inc. bonds, that were issued 5 years ago, was 9%. These bonds are now selling at 8.25% YTM. If the

The coupon rate of Piggly-Wiggly Inc. bonds, that were issued 5 years ago, was 9%. These bonds are now selling at 8.25% YTM. If the company wants to issue new bonds to the public this year, what should be the coupon rate on these new bonds in order to sell at face value?

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