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Your company currently has $1,000 ​par, 6.5% coupon bonds with 10 years to maturity and a...

Your company currently has $1,000 ​par, 6.5% coupon bonds with 10 years to maturity and a price of $1,070. If you want to issue new​ 10-year coupon bonds at​ par, what coupon rate do you need to​ set? Assume that for both​ bonds, the next coupon payment is due in exactly six months. You need to set a coupon rate of ____%. ​(Round to two decimal​ places.)

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