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A firm has a previous debt issue on its balance sheet that pays coupons of 8% annually

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A firm has a previous debt issue on its balance sheet that pays coupons of 8% annually. Newer bonds with equivalent maturity would have 10% annual coupons in order to sell at par value. Based on this information, which statement is true? Select one: a. The existing bonds would sell for more than par value. b. The WACC calculation should use a value higher than 10% as the cost of debt. C. The WACC calculation should use 8% as the cost of debt. O d. The existing bonds would sell at discount.