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Accounting

NO EXCEL ALLOWED. PLEASE SHOW ALL WORK STEP BY STEP AND PROVIDE THE CORRECT ANSWER. WILL LEAVE THUMBS UP IF ANSWER AND WORK ARE CORRECT image
3. Flo's Inc plans to issue new 10-year bonds with semi-annual coupons. Its existing outstanding 12% semi-annual coupon bonds maturing in 5 years currently sell for $973.55. If the financial intermediaries wanted to the new bonds to sell at par at issuance, what coupon rate would these new bonds carry

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