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Seether Co. wants to issue new 17-year bonds for some much-needed expansion projects. The company currently...

Seether Co. wants to issue new 17-year bonds for some much-needed expansion projects. The company currently has 10.0 percent coupon bonds on the market that sell for $1,000.00, make semiannual payments, and mature in 17 years. What coupon rate (as a APR) should the company set on its new bonds if it wants them to sell at par? (Note: the yield to maturity of the old bonds can be used as the coupon rate for the new bonds.)

  • 10.30%

  • 10.00%

  • 9.90%

  • 5.00%

  • 9.70%

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