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The yield to maturity for 1 0 - year bonds is as follows for four different bond rating categories. Use Appendix B and Appendix D

The yield to maturity for 10-year bonds is as follows for four different bond rating categories. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods.
Aaa 9.40%
Aa19.60%
Aa210.00%
Aa310.60%
The bonds of Falter Corporation were rated as Aaa and issued at par a few weeks ago. The bonds have just been downgraded to Aa2. Determine the new price of the bonds, assuming a 10-year maturity and semiannual interest payments.
Note: Do not round intermediate calculations and round your answer to 2 decimal places.

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