Hi can I please have some help with the following question? Thanks.BDJ Ltd wants to

Hi can I please have some help with the following question? Thanks.

BDJ Ltd wants to

issue new 25-year bonds for some much-needed expansion projects. The

company currently has 7.8% coupon bonds on the market that sell for $1125, make semi-annual

payments and matures in 20 years. What coupon rate should the company set on its new bonds if

it wants them to sell at par? The current bonds have a face value of $1000.