Homework: Assignment #3 (Chs 5-6) Question 11, P6-30 (similar to) Part 1 of 2 > 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.) HW Score: 0%, 0 of 15 points Points: 0 of 1 Save Andrew Industries is contemplating issuing a 30-year bond with a coupon rate of 7.04% (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 6.54%, and yields on BBB-rated bonds are 6.94%. 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