Coccia co wants to issue new 20-year bonds for some much, Ask an Expert

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Coccia Co. wants to issue new 20-year bonds for some much needed expansion projects. The company currently has 8 percent coupon bondson the market that sell for $1,075, make semiannual payments, and mature in 20 years. What coupon rate should the company set on its new bonds if it wantsthem to sell at par?

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