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It is 2 0 3 0 and the yields on corporate bonds are as follows: Aaa A Ba 8 . 1 2 % 1 0

It is 2030 and the yields on corporate bonds are as follows:
Aaa A Ba
8.12%10.12%12.12%
Tau Corporation wishes to raise $34 million by an issue of 9%10-year bonds. Assume a face value of $100 and annual coupons. What will be the likely issue price (as a percent of face value) if Tau is rated (a) Aaa, (b) A, or (c) Ba?
Note: Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.

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