San san Co. want to issue new 20-year bonds for some much-needed expansion projects. The company currently has 8 percent coupon bonds on the market that sell for $930, make semiannual payments, and mature in 20 years. The company should set a coupon rate of__percent on its new bonds if it wants them to sell at par.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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San san Co. want to issue new 20-year bonds for some much-needed expansion
projects. The company currently has 8 percent coupon bonds on the market that

sell for $930, make semiannual payments, and mature in 20 years. The company
should set a coupon rate of__percent on its new bonds if it wants them to sell at
par.

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