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Problem 6-3 Bond Prices [LO 2] Lycan, Inc., has 6 percent coupon bonds on the market that have 9 years left to maturity. The bonds

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Problem 6-3 Bond Prices [LO 2] Lycan, Inc., has 6 percent coupon bonds on the market that have 9 years left to maturity. The bonds make annual payments. Required: If the YTM on these bonds is 8 percent, what is the current bond price? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

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