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Worldwide Logistics (WL) wants to sell 20-year, $1,000-par-value bonds that pay interest semi-annually. Priority Logistics, a competitor with the same credit rating as WL, has

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Worldwide Logistics (WL) wants to sell 20-year, \$1,000-par-value bonds that pay interest semi-annually. Priority Logistics, a competitor with the same credit rating as WL, has outstanding $1,000-par-value, 3.5% annual coupon bonds paid semi-annually due in 20 years costing $642.11. If WL wants to sell each bond for $1,000, what annual coupon rate should it set

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