Your company currently has $7\%$coupon$-$rate bonds$($coupons are paid$$ semi$-$annually$)$ with ten years to maturity and a price of $ $1089.$ If you want to issue new$10-$year coupon bonds at$$ par, what coupon rate do you need to$$ set? $($Assume that for both$$ bonds, the next coupon payment is due in exactly $6$ months.$)$

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Part $1$

You need to set a coupon rate of

$$

enter your response here$\%$