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Your company currently has $1,000 par, 6% coupon bonds with 10 years to maturity and a...

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Finance

Your company currently has $1,000 par, 6% coupon bonds with 10years to maturity and a price of $1,078. If you want to issue new10-year coupon bonds at par, what coupon rate do you need to set?Assume that for both bonds, the next coupon payment is due inexactly six months.

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