The yield to maturity for 20-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	8.80%
Aa1	9.00%
Aa2	10.00%
Aa3	10.20%

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 20-year maturity and semiannual interest payments. (Do not round intermediate calculations and round your answer to 2 decimal places.)