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The yield to maturity for 1 5 - year bonds is as follows for four different bond rating categories. AAA 1 0 . 4 0

The yield to maturity for 15-year bonds is as follows for four different bond rating categories. AAA10.40% A11.00% AA10.60 BBB12.00 The bonds of Falter Corporation were rated as AA and issued at par a few weeks ago. The bonds have just been downgraded to A. Determine the new price of the bonds, assuming a 15-year maturity and semiannual interest payments. Assume the par value of the bonds is $1,000.(Use a Financial calculator to arrive at the answers. Round the final answer to 2 decimal places.) Price of the bonds $

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