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Your company currently has 5 . 2 5 % coupon - rate bonds ( coupons are paid semi - annually ) with ten years to

Your company currently has 5.25%coupon-rate bonds(coupons are paid semi-annually) with ten years to maturity and a price of $1073. If you want to issue new10-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 6 months.)
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Part 1
You need to set a coupon rate of enter your response here%.(Round to two decimal places.)

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