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Question 6 (5 marks) The yield to maturity for 20-year bonds is as follows for four different bond rating categories. The bonds of Webber Corporation

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Question 6 (5 marks) The yield to maturity for 20-year bonds is as follows for four different bond rating categories. The bonds of Webber Corporation were rated as AAA and issued at par a few weeks ago. The bonds have just been downgraded to AA. Required: Determine the new price of the bonds, assuming a 20-year maturity and semi-annual interest payments. Assume the par value of the bonds is $1,000. (Round the final answer to 2 decimal places.)

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