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The Griswold Co. wants to raise $8 million by selling some coupon bonds at par. Comparable bonds in the market have a 6 percent semi-annual

The Griswold Co. wants to raise $8 million by selling some coupon bonds at par. Comparable bonds in the market have a 6 percent semi-annual coupon, 8 years to maturity, and are selling at 96.9 percent of par. What coupon rate should the Griswold Co. set on their bonds?

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