Question: UDMA Electronics is considering a new 30-year bond issue. The company currently has 8.2% coupon bonds on the market that sell for $1,075 that mature

UDMA Electronics is considering a new 30-year bond issue. The company currently has 8.2% coupon bonds on the market that sell for $1,075 that mature in 30 years and pay semiannual payments. Both the existing bonds as well as the new bonds have a par value of $1,000. What coupon rate should the new bonds have if the company wishes to sell them at par?

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