Andrew Industries is contemplating issuing a 30 -year bond with a coupon rate of 6.05% (annual coupon payments) and a face value of $1,000. Andrew believes it can get a rating of A from Standard and Poor's. However, due to recent financial difficulties at the company, Standard and Poor's is warning that it may downgrade Andrew Industries bonds to BBB. Yields on A-rated long-term bonds are currently 5.55\%, and yields on BBB-rated bonds are 5.95% a. What is the price of the bond if Andrew maintains the A rating for the bond issue? b. What will the price of the bond be if it is downgraded? a. What is the price of the bond if Andrew maintains the A rating for the bond issue? The price of the bond maintaining the A rating is $. (Round to the nearest cent.)