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AsAp The 30-year A rated bonds of Polly Cracker Company were initially issued at a 8 percent yield (paid semiannually). Anter 15 years, the bonds
AsAp The 30-year A rated bonds of Polly Cracker Company were initially issued at a 8 percent yield (paid semiannually). Anter 15 years, the bonds have been upgraded to AA Such bonds are currently yielding 6 percent (semiannual compounding). Assume the par value of the bonds is $1,000 Determine the price of a Polly Cracker bond. (Uce o Financial calculator to arrive at the answer. Round the final answer to 2 decimal places.) Price of the bonds
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