(Bond valuation)Pybus, Inc. is considering issuing bonds that will mature in 15 years with an annual coupon rate of 9 percent. Their par value will be $1000, and the interest will be paid semiannually.

Pybus is hoping to get a AA rating on its bonds and, if it does, the yield to maturity on similar AA bonds is 10 percent.

However, Pybus is not sure whether the new bonds will receive a AA rating.

If they receive an A rating, the yield to maturity on similar A bonds is 11 percent. What will be the price of these bonds if they receive either an A or a AA rating?

a. The price of the Pybus bonds if they receive a AA rating will be _____ (Round to the nearest cent.)

B. the price of the Pybus bond if they receive a A will be_____ (round to the nearest cent)