Lycan, Inc., has 8.5 percent coupon bonds on the market that have 8 years left to maturity. The bonds make annual payments.

Required:

If the YTM on these bonds is 10.5 percent, what is the current bond price? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Current bond price

$

To calculate the number of years until maturity, assume that it is currently January 15, 2013.

Company (Ticker)

Coupon

Maturity

Last Price

Last Yield

EST $ Vol (000