The yield to maturity for 25-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%
Aa1	9.60%
Aa2	10.00%
Aa3	10.50%

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