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Problem 7-6 Bond Prices [LO2] Ninja Co. issued 12-year bonds a year ago at a coupon rate of 7.2 percent. The bonds make semiannual payments.

Problem 7-6 Bond Prices [LO2]

Ninja Co. issued 12-year bonds a year ago at a coupon rate of 7.2 percent. The bonds make semiannual payments. If the YTM on these bonds is 5.5 percent, what is the current bond price? (Round your answer to 2 decimal places. (e.g., 32.16))

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