BC Co. wants to issue new 15-year bonds for some much-needed expansion projects. The company currently...

BC Co. wants to issue new 15-year bonds for some much-needed expansion projects. The company currently has 5% coupon bonds on the market that sell for $1,050 make semiannual payments, and matures in 15 years. What coupon rate should the company set on its new bonds if it wants them to sell at $950?

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