Langdon Company has purchased three corporate bonds as temporary investments. Langdon has assembled the following matrix of bond price data for actively traded bonds which can be used to indirectly estimate the selling price of each of Langdon's bonds.

Bond Prices (% of par) Bond Ratings

Term (in years) AAA AA A BBB BB

2	1 03.85	103.56	102.71	1 02.37	100.29
5	103.66	102.53	101.45	100.17	98.50
10	1 01.64	100.29	99.56	98.54	91.98
20	95.66	91.49	90.00	89.31	82.06

For the three bonds it purchased, Langdon has determined the time to maturity and has also looked up the bond rating from Standard & Poors. These data for the three bonds are as follows:

Term (years) Bond Rating

Bond 3 4 AAA

Bond 4 17 BB

Bond 5 8 A

Estimate the fair value of each bond. Par is, as is typical, $1,000 face per bond, and the numbers in the matrix are percentages of par.