Chamberlain Co. wants to issue new 20-year bonds for some much-needed expansion projects.

Chamberlain Co. wants to issue new 20-year bonds for some much-needed expansion projects. The company currently has 6 percent coupon bonds on the market that sell for $1028, make semiannual payments, and mature in 20 years.

What coupon rate should the company set on its new bonds if it wants them to sell at par?