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Your company currently has $ 1000 par, 6.25 % coupon bonds with 10 years to maturity and a price of $1,074 . If you want

Your company currently has $ 1000 par, 6.25 % coupon bonds with 10 years to maturity and a price of $1,074. If you want to issue new10-year coupon bonds atpar, what coupon rate do you need toset? Assume that for bothbonds, the next coupon payment is due in exactly six months. You need to set a coupon rate of what %?

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