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Your company currently has $1,000 par, 6.5% coupon bonds with 10 years to maturity and a price of $1,065 if you wask to issue new

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Your company currently has $1,000 par, 6.5% coupon bonds with 10 years to maturity and a price of $1,065 if you wask to issue new 10 yoar coupon bonds at par, nhat coupon rale do yeu need to set? Assume that for both bonds, the next eoupon payment is due in exactiy six months. You need to sol a coupon rate of K. (Rhound to two decimal places)

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