A company wants to issue new 10-year bonds for some much needed expansion projects. The company currently has 11 percent bonds on the market that sell for $1,130.08, make semiannual payments, and...

1. A company wants to issue new 10-year bonds for some much needed expansion projects. The company currently has 11 percent bonds on the market that sell for $1,130.08, make semiannual payments, and mature in 10 years. What should the coupon rate be on the new bonds if the company wants to sell them at par?

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