Question: Problem 6 - 2 2 Bond Yields [ LO 2 ] Uliana Company wants to issue new 2 1 - year bonds for some much

Problem 6-22 Bond Yields [LO 2]
Uliana Company wants to issue new 21-year bonds for some much-needed expansion projects. The company currently has 10.1 percent coupon bonds on the market that sell for $1,141, make semiannual payments, have a par value of $1,000, and mature in 21 years. What coupon rate should the company set on its new bonds if it wants them to sell at par?
Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.,32.16.

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