In $2023,$ a company raised $$972\mathrm{.}8$ million by issuing a $3-$year, $$1,000$

bond with annual coupons at a $4\%$ rate. The yield$-$to$-$maturity at that

time was $5\%.$ A year later, in $2024,$ the company is planning to raise the

same amount of money by issuing another $3-$year, $$1,000$ bond with

annual coupons. The yield$-$to$-$maturity is now $7\%.$ In this new issuance,

the company needs to set a coupon rate higher than $4\%.$

True

False