Acme Co. wants to issue new 15-year bonds for some much-needed expansi

Acme Co. wants to issue new 15-year bonds for some much-needed expansi

Acme Co. wants to issue new 15-year bonds for some much-needed expansion projects. The company currently has 6% coupons bonds on the market that sell for $1,337, make semiannual payments, and mature in 15 yrs. What coupon rate should the company set on its new bonds if it wants them to sell at par? The bond has a face value of $1,000.