Your company currently has$$1,000$ par,$7\%$coupon bonds with $10$

years to maturity and a price of$$1,088.$ If you want to issue

new$10-$year coupon bonds 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$.)$