Your company currently has $1000 par, 7% coupon rate, semi-annual coupon bonds with ten years to maturity and a price of $1075. If you want to issue new ten-year semi-annual 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 6 months You need to set a coupon rate of%. (Round to two decimal places.)