Your company currently has a bond issue outstanding with the following features: $1000 face value, original maturity 12 years, 8 years remaining until maturity, 4% coupon rate, coupons paid annually, and price of $947. Your company now wants to issue a new 8-year bonds at par value. What coupon rate does your company need to set on the new bonds? Assume that for both bond issues the next coupon paymeny will occur one year from now.