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When Polycorp issued its debentures three years ago, they had six years remaining to maturity. Using the following information, calculate the price of the

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When Polycorp issued its debentures three years ago, they had six years remaining to maturity. Using the following information, calculate the price of the debentures today. Face value = $100 Coupon Rate = 0.07 Yield = 0.05 Both the coupon rate and the yield are expressed as decimals, e.g. 12% pa is expressed as .12 Calculate the price accurate to two decimal places. Do not enter the $ sign.

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