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The Dairy Delight wants to raise $1.5 million by selling some coupon bonds at par. Comparable...

The Dairy Delight wants to raise $1.5 million by selling some coupon bonds at par. Comparable bonds in the market have a 4 percent annual coupon, 10 years to maturity, and are selling at 95 percent of par. What coupon rate should The Dairy Delight set on its bonds?

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