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Bonds offer in order to sell at face value

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Reference no: EM132528952

General Matter's outstanding bond issue has a coupon rate of 8.0%, and it sells at a yield to maturity of 7.00%. The firm wishes to issue additional bonds to the public. What coupon rate must the new bonds offer in order to sell at face value? (Enter your answer as a percent rounded to 2 decimal places.)

Reference no: EM132528952

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