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The yield to maturity for 25 year bonds is as follows for four different bond rating categories. AAA 9.20% A 10% AA 9.40 BBB 10.40

The yield to maturity for 25 year bonds is as follows for four different bond rating categories. AAA 9.20% A 10% AA 9.40 BBB 10.40 Required; The bonds of Coop Corp were rated AAA and issued as par a few weeks ago. The bonds have just been downgraded to AA. Determine the new price of bonds, assuming a 25 year maturity and semiannual interest payments. Assume the par value of the bonds is $1000

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