Problem 3-31 Bond ratings A bond's credit rating provides a guide to its price. Assume Aaa bonds yield 3.7% and Baa bonds yield 4.7%. Assume a 10% five-year bond with annual coupons and a face value of $1,000. (Do not round intermediate calculations. Round your answers to 2 decimal places.) a. What is the bond's price if it is rated as Aaa? Bond price b. What is the bond's price if it is rated as Baa? Bond price