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a . Many years ago, Castles in the Sand Incorporated issued bonds at face value at a yield to maturity of 5 . 2 %

a. Many years ago, Castles in the Sand Incorporated issued bonds at face value at a yield to maturity of 5.2%. Now, with 5 years left until the maturity of the bonds, the company has run into hard times and the yield to maturity on the bonds has increased to 11%. What is now the price of the bond? (Assume semiannual coupon payments.)
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
\table[[Bond price,$77446
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