Bonds for some much needed expansion projects

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The whistles co wants to issue new 20-year bonds for some much needed expansion projects. The company currently has 8 percent coupon bonds on the market that sell for $1,105, make semiannual payments, and mature in 20 years. What coupon rate should the company set on its new bonds if it wants them to sell at par?

Reference no: EM131894263

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